Tough times continue for the deals firm Groupon, which disappointed Wall Street on Thursday (Nov. 8) with a net loss of $3 million for the third quarter and below-expectations revenues of $569 million.
In after-hours trading on the Nasdaq, the Chicago-based company's stock fell 62 cents—about 16 percent—to $3.30 per share. Groupon debuted as a public company one year ago at a share price of $20. But that number has been nosediving for months due to investor worries about the long-term viability of its business model, as well as Groupon's ability to expand sales.
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