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Why Groupon Stock Popped 7% on Wednesday

·1 min read
Why Groupon Stock Popped 7% on Wednesday
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  • GRPN

Shares of Groupon (NASDAQ: GRPN) jumped as much as 7% on Wednesday after the company announced its new CEO Kedar Deshpande. Groupon's board of directors likely thought this experience would be vital in helping it turn around its consumer and merchant marketplace. Since its failed initial public offering (IPO) in 2012, Groupon has pivoted from just a coupon company to building a marketplace that connects local consumers with local merchants.