Groupon (GRPN) Rally Gets Mowed Down
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Price: $28.17 +1.22%
Rating Summary:
14 Buy, 16 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 42
Rating Summary:
14 Buy, 16 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 42
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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.
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