Groupon stock in downward spiral |
| Chicago Sun-Times - Nov 12, 2012 |
Groupon’s stock price fell another 4 percent Monday morning, to $2.66 a share, plunging below its previous all-time closing low on Friday of $2.76 a share.
Shares had been down to $2.62 in earlier trading.
The continued falloff follows analysts’ skeptical outlooks based on the Chicago daily deals site’s disappointing earnings results and holiday forecast last week.
The stock price ended the day Friday down 29.6 percent, or $1.16 a share, marking its first close under $3.
Groupon reported late Thursday a $3 million third-quarter loss on lower-than-expected revenue of $591 million and showed growing dependence on less-profitable sales of discounted products at Groupon Goods.
Despite analysts’ questions about the future of the online coupon business itself, Groupon CEO Andrew Mason said during the company’s earnings call last week that the daily deals business can still produce strong growth and that the company will “go beyond the inbox” to become an e-commerce marketplace offering deals on demand.
Read Full Article from Chicago Sun-Times
- Posted: 2012-11-12 14:21:39
| More Stock Investor Place Company News |
 |
|
|
|
| Stock Investor Place Company News Archive |
|
|
|
