Groupon Plunges as Mason Keeps Top Job
November 30, 2012 - 2:42pm
In recent days there has been speculation that Groupon (NASDAQ: GRPN) CEO Andrew Mason is on the hot seat. On Thursday, however, the board of directors decided to retain the co-founder of the company as the chief executive. This shouldn't have come as a surprise, but the stock is getting hit very hard on Friday after rising earlier in the week on the speculation of a new CEO.
Even if Mason is eventually ousted, it would likely not occur in the near future.
On Friday, the stock was down more than nine percent, trading near $4.11. The shares rose sharply on Tuesday, Wednesday and Thursday as speculation about ...
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