(Bloomberg) — Groupon Inc. plummeted as much as 26% in late trading after delivering worse-than-expected results and announcing plans to stop selling goods — a retreat for a company that once aspired to be a major shopping service.Earnings declined to 7 cents a share last quarter, excluding some items, Groupon said on Tuesday. That missed even the most pessimistic Wall Street estimate. Sales also fell dramatically short of projections.The stock tumbled as low as $2.26 in extended trading after the results were posted. The shares had been up 28% this year through Tuesday’s close, with investors betting that Groupon could …read more
Source:: Yahoo Finance
