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In addition to the Zynga train wreck, Groupon (GRPN -7.7%) is falling due to a downgrade to...
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Thursday, July 26, 2012, 2:24 PM ETIn addition to the Zynga train wreck, Groupon (GRPN -7.7%) is falling due to a downgrade to Equalweight from Evercore's Ken Sena. Sena, who upgraded Groupon in April, is worried about both Groupon's performance - he thinks North American and international billings are "trending well below consensus" - and trustworthiness. He believes Groupon's Q1 beat was due to sales from Groupon Goods rather than improved daily deals performance, as the company claimed in May.
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