Top Stories
Top Stories
Tech

Groupon surges on report it's seeking a buyer

Key Points
  • Recode reported Saturday that the company, which pioneered local online deals, is considering a sale.
  • The stock is on track for its best day since February 2017.
  • Groupon is down roughly 9 percent in 2018 and more than 20 percent off its 52-week high of $5.99.
Rich Williams, CEO of Groupon
Ashlee Espinal | CNBC

Groupon gained almost 11 percent Monday following a weekend report that the company is seeking a buyer.

Shares closed at $4.83 after jumping as much as 13 percent to $4.96. That makes for the stock's best day since February 2017. 

Recode reported Saturday that the company, which pioneered local online deals, is considering a sale. , which took a nearly 6 percent stake in the the company in 2016, could step in as a buyer, as could , whose CEO Joey Levin is a Groupon board member, the tech news site reports.

Groupon is down roughly 5 percent in 2018 and nearly 20 percent off its 52-week high of $5.99.

VIDEO3:5603:56
Amazon is so much more than online shopping — here's how big its become
Next Article
Retail

Alibaba's Singles Day is Amazon's Prime Day — on steroids

Key Points
  • Last year, Alibaba racked up almost $18 billion in sales during its 24-hour event in China
  • Prime Day began on July 15, 2015, to commemorate Amazon's 20th birthday
  • Its inaugural event was a success, exceeding Amazon's Black Friday sales, while the second edition last year was declared "the biggest day ever for Amazon"