Groupon (GRPN) Rally Gets Mowed Down
Tweet
Share
E-mail
Get Alerts GRPN Hot Sheet
Price: $19.59 -0.05%
Rating Summary:
14 Buy, 16 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
14 Buy, 16 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Traders hammered shares of Groupon (Nasdaq: GRPN) today after reports pointed to concern about demand for the company's daily deals. Analyst at Raymond James released a survey of more than 100 Groupon merchants and the results weren't pretty.
16 percent of merchants were "very satisfied" and 37 percent were "satisfied". That’s the good news. The bad news is that a third were either "unsatisfied" or "very unsatisfied". Another 39 percent of merchants said they are not likely to run another Groupon deal over the next couple of years, noted the analyst report.
After a year-to-date selloff totaling 75 percent, last week shares of Groupon posted a rare, week-long rally, but the good times weren't meant to last. Shares of Groupon dropped 9 percent intra-day on Monday.
16 percent of merchants were "very satisfied" and 37 percent were "satisfied". That’s the good news. The bad news is that a third were either "unsatisfied" or "very unsatisfied". Another 39 percent of merchants said they are not likely to run another Groupon deal over the next couple of years, noted the analyst report.
After a year-to-date selloff totaling 75 percent, last week shares of Groupon posted a rare, week-long rally, but the good times weren't meant to last. Shares of Groupon dropped 9 percent intra-day on Monday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- Viking Holdings (VIK) PT Raised to $82 at Mizuho
- Intchains Group Ltd (ICG) PT Lowered to $2 at Benchmark Following 1H Results
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Raymond JamesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
