Groupon Is Worth 50% More, According To Leon Cooperman
Groupon Inc (NASDAQ: GRPN) shares spiked up Wednesday as Leon Cooperman of Omega Advisors commented on the stock.
Appearing on CNBC, Cooperman said, "we think the underlying asset value of [Groupon] is substantially is in excess of where the stock is trading [...] The stock seems mis-priced. We think it's worth 40-50 percent more than it's [currently] trading and [its] fundamental business is improving."
Cooperman cautioned that his firm only holds a small stake in Groupon, but his sentiments about the stock echo the favorable comments recently made by Brean Capital.
Groupon recently traded at $7.17, up 4.9 percent.
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