Groupon Plunges to Record as Coupon Demand Fades: Chicago Mover
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Groupon Inc., the largest daily-deal website, plunged to a record low after reporting third-quarter revenue that missed estimates as sales of coupons overseas declined from the previous period.
The shares tumbled 30 percent to $2.76 at the close in New York, for a market value of $1.81 billion. Last November, Groupon sold shares at $20 apiece in an initial public offering, valuing the discounter at about $12.7 billion.