UPDATE 1-Groupon shares climb above $20 IPO price

Fri Dec 2, 2011 10:56am EST

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.

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Comments (1)
drbuilder wrote:
More manipulation. Does anyone really believe they will keep growing to the point that they will show enough profit to justify this type of valuation? I can’t see it happening. Competition is mounting, and the barriers of entry are very low in this business. Probably some good trading opportunities for the players on this stock.

Dec 02, 2011 11:07am EST  --  Report as abuse
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