|Bid||0.0000 x 1300|
|Ask||0.0000 x 28000|
|Day's Range||2.8300 - 3.0850|
|52 Week Range||2.1700 - 3.8200|
|Beta (5Y Monthly)||1.16|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr. 27, 2020 - May 03, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3.25|
(Bloomberg) -- Groupon Inc. plummeted as much as 26% in late trading after delivering worse-than-expected results and announcing plans to stop selling goods -- a retreat for a company that once aspired to be a major shopping service.Earnings declined to 7 cents a share last quarter, excluding some items, Groupon said on Tuesday. That missed even the most pessimistic Wall Street estimate. Sales also fell dramatically short of projections.The stock tumbled as low as $2.26 in extended trading after the results were posted. The shares had been up 28% this year through Tuesday’s close, with investors betting that Groupon could mount a comeback.Groupon Goods, an e-commerce site for for products like phone charges and coats, was an attempt to attract new customers and decrease the company’s reliance on its core business -- selling daily deals and other discounts. But the business’s contribution to profit has been declining for four quarters, and consumers have lost interest, Groupon said. That’s why it plans to phase out the program this year.“Goods has outlived its role as a business driver and has become a significant drag on our business,” Chief Executive Officer Rich Williams said in a letter to shareholders.Groupon’s turnaround plan now hinges on relaunching the brand and kicking off a new marketing strategy, Williams said. The hope is to shift away from offering deals and be known as a marketplace where consumers can find local experiences.The goal is “being top of mind when our customers are looking for the best things to do around them, when they need something to do with their kids on the weekend or for when they’re planning date night,” he said.Groupon also named two new board members: Valerie Mosley, CEO of Valmo Ventures LLC, and Helen Vaid, Pizza Hut’s chief customer officer. And it appointed interim Chief Financial Officer Melissa Thomas to the job permanently. And the board is proposing a reverse stock split at a ratio of between 1-for-10 and 1-for-12.To contact the reporter on this story: Nick Turner in Los Angeles at firstname.lastname@example.orgTo contact the editor responsible for this story: Nick Turner at email@example.comFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Groupon has added Valerie Mosley and Helen Vaid to the company's Board of Directors and named Melissa Thomas as Chief Financial Officer.
Most parents haven't been on a date since 2017, according to a new Valentine's Day survey from local experiences marketplace Groupon.
Groupon will report Q4 2019 financial results on Feb. 18 after the close of trading and will hold a conference call to discuss the results on Feb. 19.
Groupon (GRPN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Groupon, Inc. (NASDAQ:GRPN) shareholders should be happy to see the share price up 27% in the last month. But that is...
Groupon has selected TBWA as its creative agency of record to help the company continue transforming its business into an experiences marketplace.
MercadoLibre (MELI) is currently plagued with rising expenses, which makes it an unsuitable investment pick. Instead investors can consider these three e-commerce stocks with strong fundamentals.
(Bloomberg Opinion) -- Andreessen Horowitz is lauded today as one of the most influential and innovative firms in venture capital. But when it started a decade ago, the approach taken by co-founders Marc Andreessen and Ben Horowitz, this week's guest on Masters in Business, was derided as “crazy.” At the time, in the midst of the 2009 financial crisis, Horowitz was told “nobody needed yet another venture capital firm.” But they pushed ahead anyway. The result was firm that disrupted the Silicon Valley disruptors. Today, A16Z (as it is known) has $12 billion in assets under management across multiple funds. It was an early investor in startups such as Facebook, Airbnb, Lyft, Groupon, Twitter, Pinterest, Box and many more.Horowitz also credits the firm’s general partners, most of whom came of age in technology as founders, operators, chief executive officers or chief technology officers. He describes their experiences building successful companies as “crushingly hard,” and very much influencing the firm's thinking about startups. His latest book is “What You Do Is Who You Are: How to Create Your Business Culture.” His first book was “The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers.” His favorite books can be seen here; a transcript of the conversation is here.You can stream/download the full conversation, including the podcast extras on Apple iTunes, Overcast, Spotify, Google, Bloomberg and Stitcher. All of our earlier podcasts on your favorite pod hosts can be found here.Next week, we speak with Peter Mallouk, CEO of Creative Planning Inc., a $46 billion investment advisory firm, and author of "The 5 Mistakes Every Investor Makes and How to Avoid Them."To contact the author of this story: Barry Ritholtz at firstname.lastname@example.orgTo contact the editor responsible for this story: James Greiff at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Barry Ritholtz is a Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Lolli, a plug-in that gives shoppers cash-back rewards in bitcoin, has added big names like Walmart, Macy's, Ulta, and Hilton. But that doesn't mean those companies are publicly supporting bitcoin.
Cyber Monday is touted to be the biggest U.S. e-commerce sales day in history. Online sales volumes are expected at around $9.4 billion, suggesting a 18.9% rise from the year-ago level.