- Groupon (NASDAQ:GRPN) is up sharply on a day that has seen the Nasdaq rise 0.9%. Volume is light - 5.1M shares have been traded thus far vs. a 3-month daily average of 9.7M.
- With a slew of other well-shorted tech names also up sharply (see 3D printing stocks), short-covering is likely helping out. 66.3M shares (15% of the float) were shorted as of Nov. 30.
- The local deals leader is at its highest levels since plunging in early November due to a Q3 sales miss and soft Q4 guidance. The numbers were accompanied by news COO Rich Williams is replacing Eric Lefkofsky is CEO.
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Three weeks ago: New Groupon CEO Williams shakes up management; CTO out