Groupon’s stock slipped a little on Wednesday, following Tuesday’s dramatic 40 percent spike on the news that Alibaba had purchased about a 5 percent stake in the company. Alibaba last week disclosed in a filing with the Securities and Exchange Commission that it had bought about 33 million shares of Groupon. The disclosure boosted shares of Alibaba, as well as the struggling Yahoo, which owns a stake in Alibaba. Groupon last week released an encouraging Q4 earnings report, and the company’s stock rose by roughly 29 percent.
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Groupon Flies High on Alibaba Investment
Posted by: Quinten Plummer February 17, 2016 12:57 PMGroupon’s stock slipped a little on Wednesday, following Tuesday’s dramatic 40 percent spike on the news that Alibaba had purchased about a 5 percent stake in the company. Alibaba last week disclosed in a filing with the Securities and Exchange Commission that it had bought about 33 million shares of Groupon. The disclosure boosted shares of Alibaba, as well as the struggling Yahoo, which owns a stake in Alibaba. Groupon last week released an encouraging Q4 earnings report, and the company’s stock rose by roughly 29 percent.