UPDATE 1-Groupon shares climb above $20 IPO price
By Alistair Barr
Dec 2 (Reuters) - Groupon Inc shares rose above their $20 initial public offering price on Friday.
Groupon stock slumped below $20 last month on concern about competition from rival LivingSocial and how the European debt crisis might affect overseas growth.
However, Groupon released strong early holiday sales numbers this week and executives said international growth remains strong.
Groupon shares rose more than 7 percent to an intraday high of $20.82 on Friday. The stock was up 5.5 percent to $20 in late-morning trading.
- Exclusive: Secret contract tied NSA and security industry pioneer |
- U.S. aircraft hit by gunfire in South Sudan as conflict worsens
- With Fed out of the way, what's next on Wall Street?
- Four men arrested in deadly N.J. shopping mall carjacking
- Analysis: Lost Brazil order raises threat to Boeing fighter jets