Groupon Inc. Posts 3rd Quarter Loss, Stocks Plummet

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In late morning trading, the price of the shares of Groupon Inc. plummeted by 27 percent and was traded at $2.86 per share, in late morning trading. Shares of Groupon Inc. debuted in 2011 and trading started at $20. Since then, shares of Groupon Inc. have suffered continuous. After the company published its 3rd quarter loss on Thursday, the shares suffered huge fall. Net loss worth $3 million was reported in the 3rd quarter. for the third quarter on $568.6 million in revenues.

On Thursday, Chief Executive of the company, Andrew Mason said that the company is moving assertively to resolve the issues such as displeased merchants and a below par deal selection in Europe. The Chief Executive then went on to tout Groupon’s strategy to shift beyond e-mail, fetching customers to its website for different needs such as looking for discounts when hungry, bored or simply looking for a product. Groupon Inc. is also pushing Groupon Goods.

 

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