Groupon, Inc. Stock News

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Why Groupon Stock Plummeted by 27% on Wednesday

Groupon, Inc. (NASDAQ:GRPN ) Q3 2024 Earnings Conference Call November 12, 2024 5:00 PM ET Company Participants Dusan Senkypl - Chief Executive Officer Jiri Ponrt - Chief Financial Officer Conference Call Participants Sean McGowan - ROTH Capital Bobby Brooks - Northland Capital Pierre Riopel - Goldman Sachs Operator Hello and welcome to Groupon's Third Quarter 2024 Financial Results Conference ...

Groupon (GRPN) stock price has suffered a harsh reversal in the past few weeks as concerns about the e-commerce industry continued. It retreated to a low of $10.85, down by almost 45% from its highest point this year, giving it a market cap of over $431 million.

Groupon's revenue fell in the second quarter. It is spending a bunch on marketing and is still unprofitable.

Groupon shares fell 16.8% following a mixed Q2 earnings report. A cloud migration project caused stability issues, leading to expensive outages and low guidance targets for the next quarter.

Groupon posted mixed second-quarter results after the market close on Tuesday. One analyst is lowering his price target on the stock, but it still represents more than 75% in near-term upside.

Groupon (GRPN) shares tumbled in premarket trading Wednesday, a day after the company reported an unexpected loss.