Groupon Shares Hit New Low in Latest Plunge

Another day, another sell-off at Groupon, it appears.

Shares in the company touched new lows on Wednesday, diving 6.5 percent. Groupon’s stock closed down 54 cents, at $7.77, after trading as low as $7.72. That is well below its initial public offering price of $20 a share.

Wednesday’s closing price values Groupon at a little over $5 billion, less than a third of the $16.5 billion market capitalization it had at the end of its first day of trading in November, when the stock closed at $26.11.

The company has had a tough time in the public markets since going public. Shares in Groupon have tumbled 70 percent since the daily deals pioneer’s initial public offering.

Read Full Article from New York Times

- Posted: 2012-07-11 21:40:10

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