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Groupon Stock Price Bounces on Upgrade

By  +Follow September 19, 2013 10:53AM
Tickers Mentioned:

Online deal website Groupon (GRPN) was up over 4 percent on premarket trading and kept that momentum, with gains approaching 9 percent by early afternoon. The spike can most likely be attributed to a recent upgrade from analysts at Stifel Financial Corp. ($SF) who upgraded the stock from Hold to Buy.

Analyst Upgrade Drives Gains

Stifel cited three primary reasons for their upgrade for their newfound optimism: accelerated growth at core “local” businesses in the United Kingdom with other European markets holding steady, the company’s status as a leader in mobile commerce and its “continued shift of usage toward app-based e-commerce,” and improved margins with more efficient operations under co-founder and CEO Eric Lefkosky’s management team.

Groupon buys SideTour

The upgrade comes on the heels of news on Sept. 18 that Groupon would be acquiring New York-based travel daily deals site SideTour. SideTour was built around enabling small groups of people to purchase tickets to local cultural events, helping them explore their city. Details of the deal were not disclosed, but co-founder and CEO of SideTour Vipin Goyal said that the deal would allow his company to “reach so many more people than we ever could on our own.” This was the second such acquisition for Groupon in the last two weeks as it announced the purchase of European travel website Blink on September 9.

Stock Market News Improving for Groupon since Mason Ouster

Anyone who’s held Groupon’s stock since the company’s IPO almost two years ago might want to title their wild ride “How Not Green Was My Valley.” After debuting in November of 2011 at a price of $26.11 a share, the stock cratered as questions about co-founder and CEO Andrew Mason’s leadership swirled for months. After a year of public trading, Groupon had lost over 85 percent of its value and was trading for under $5 a share.

However, since Mason was fired in February of this year, the stock’s rallied with vigor. Today’s pop is part of a run that’s seen the stock price jump almost 180 percent since the start of March.

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Results for GRPN
8 Oct 15 12:51:19
XLU Utilities Select Sector SPDR Exchange http://t.co/GLGhYn7QTJ $XLU $HGD.TO $GRPN $MYEC #XLU #pennystocks #tradeideas
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Rosner Stocks
8 Oct 15 12:51:06
XLV Health Care Select Sector SPDR Stock Forum http://t.co/qX3hLQml9x $XLV $GRPN $MRO $JD #XLV #investing #nasdaq
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Frank George
8 Oct 15 12:42:22
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Investors Hangout
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Seeking Alpha Alerts
8 Oct 15 12:19:29
@simysimycoco $grpn 4 Reasons I'm Avoiding Groupon http://t.co/qpRPUqXw8a
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8 Oct 15 12:19:28
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8 Oct 15 12:01:07
$GRPN: Growth Stock Watch: Groupon, Inc. (NASDAQ:GRPN): http://t.co/JRX3ETyezi
Mike Kudrna
8 Oct 15 11:47:57
$GRPN If the bulls can press in the key $4 to $4.15 area where the shorts will put up a fight, a bigger short squeeze can really be fueled
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8 Oct 15 11:36:47
GRPN Top news - Oct 8th, 2015 $GRPN http://t.co/IcpVlBqIAs
8 Oct 15 11:34:06
$GRPN $GRUB: 4 Reasons I’m Avoiding Groupon: http://t.co/Z260PSr3Gv
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RT @QP_Technology: $GRPN News: "4 Reasons I'm Avoiding Groupon $AMZN $ETSY $GRUB $GRPN" http://t.co/1gWVp2x3if Analyze: https://t.co/z31MP…
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Long & Short Ideas
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8 Oct 15 11:10:06
$GRPN: Stock News Sentiment in Focus: Groupon, Inc. (NASDAQ:GRPN): http://t.co/AMIsN9xk2E
By  +Follow September 19, 2013 10:53AM



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