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Groupon Drops By 27% $GRPN
Groupon’s latest earnings from Q4 2012 were much lower than expected, resulting in a massive selling of the stock. It dropped from around $6 to $4.50 after closing on Wednesday, February 17th. The estimated earnings for the next quarter were also much lower than expected; making Groupon’s current and future situation iffy for investors.
Despite the earnings and estimates, Groupon did pull in $638.3 million for 2012, which is up 30%. For this upcoming year, Groupon needs to regroup (no pun intended) and construct ways to out-do their competitors like LivingSocial and Amazon Local ($AMZN.) A recent survey revealed that restaurant owners believe that discount sites like Groupon are actually more harmful than helpful when it comes to bringing profit to their business. Perhaps this could be a contributing factor for missing their revenue targets.