Groupon Rises 5% on Very Heavy Volume
Shares of Groupon (NASDAQ: GRPN) are having a strong session on Monday as Facebook (NYSE: FB) has lost more than 8%. At last check, GRPN shares were trading up 5.53% to $12.22. The stock actually gapped lower this morning, but has been trending higher for most of the day.
Nearly 5 million GRPN shares have already traded hands on the session, compared to a 3-month daily average of 3.2 million. Over the last month, GRPN has added 9.52%, although the stock is still trading well below its IPO price of $20.00. At current levels, the company has a market-cap of just below $8 billion.
Groupon, Inc. is a local e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount. Each day the Company e-mails its subscribers discounted offers for goods and services that are targeted by location and personal preferences.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.