Groupon Inc (NASDAQ:GRPN) verdict to fire Andrew Mason puts pressure on Chairman Eric Lefkofsky to find a substitute who can make a money-making unit after the company lost $723.8 million in the previous 3 years.
Chief executive officer of daily-deal provider Andrew Mason presided over a dipping stock price, an earnings restatement and around 3 quarters of results that failed to meet analysts’ forecasts.
Mason addressed his ouster on Friday in a letter to workers, joking regarding needing a “fat camp” to lose weight even while accepting responsibility for Groupon’s shortcomings.
Co-founded Lefkofsky will run the corporation with Vice Chairman Ted Leonsis as they search for a new Chief Executive.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Amazon.com, Inc. (NASDAQ:AMZN) rose +0.56% to settle at $265.74, United Online, Inc. (NASDAQ:UNTD) moved down -0.17% to end at $5.89 while PCM Inc (NASDAQ:PCMI) jumped +1.41% to finish at $7.20 on Friday.
Groupon Inc (NASDAQ:GRPN) on March 01, 2013 increased +12.58% to the closing price of $5.10. The overall volume in the last trading session was 62.22 million shares. Its fifty two weeks range was $2.60 – $19.88. The total market capitalization remained at $3.34 billion.
GRPN is ahead of its 52-week low with 96.15% and lagging behind from its 52-week high price with -74.73%. GRPN’s last month’s stock price volatility remained 6.75%. In its share capital GRPN has 655.72 million outstanding shares, among them 361.92 million shares have been floated in market exchange. GRPN’s stock’s institutional ownership remained 58.40% while insider ownership included 0.32%.
The stock price of GRPN is moving down from its 20 days moving average with -7.66% and remote positively from 50 days moving average with -2.68%. GRPN’s current year’s earnings per share experienced a downfall of -44.10% while its current quarter performance remained at 15.38%.
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