New CEO, Buybacks boost Groupon Inc (NASDAQ:GRPN) stock


Dallas, Texas 08/27/2013 (Financialstrend) – The recent replacement of the Chief Executive Officer, Andrew Mason of Groupon Inc (NASDAQ:GRPN) to put in Eric Lafkofsky to the new role had proved to be of high value to the company. The stock had thereby presented significant gain in prices to boost up by around 30% after the recent earnings report was announced by the struggling coupon giant. Further, the company had also made announcements on the buyback of its shares of total value $300 million. It could be considered that such prospects are presenting effective signs of recovery to the company after two years of struggle post the issue of initial public offer of the stock.

However, there are few challenges that are further to be met out by Groupon Inc (NASDAQ:GRPN) in the near future. One major issue that the CEO would have to address immediately would be to find a way to bring back the local merchants who had been facing issues since the company had gone public. It is essential that the new leadership would take up effective steps to help these merchants to get back their businesses so that the company could also profit effectively from it.

Groupon Inc (NASDAQ:GRPN) shares are currently trading at $9.94 and decreased by 3.26%. The stock was observed fluctuate during the day to present intraday prices moving in the range of $9.80 to $10.20 per share, while the stock had recorded 52 week low at $2.60 per share and 52 week high at $11.22 per share. Further, the stock’s trading volume reported to be at 10.52 million shares while for the past 30 days the stock had reported average trading volume at 16.52 million shares per day.