Groupon 's Shares Sink
Groupon's stock recently traded at $5.82, down 23% and below the lowest closing price since Groupon went public in November at $20 a share.
Groupon Inc.'s shares sank to new lows Tuesday as the company's results fueled investor concerns about the onetime Web commerce star.
The Chicago-based daily-deals pioneer Monday reported its first-ever quarterly profit as a public company, on revenue that increased 45% from the year-earlier period. But gains in the second quarter were driven by Groupon Goods, a relatively new, low-margin business of selling merchandise such as jewelry or kitchen appliances.