Analysts have reduced their expectations for the struggling Groupon Inc (NASDAQ:GRPN). The current year has been going very bad for the deals website and the company is facing a lot of tumbles in the market. TheStreet’s Jonathan Marino reported on Groupon Inc (NASDAQ:GRPN)’s market position and said that the Groupon Inc (NASDAQ:GRPN)’s latest problems has reminded everyone of its starting days. But Groupon can also reclaim its market position by taking advantage of the reduced market expectations. Apple Inc. (NASDAQ:AAPL) recently launched iPhone 6 and iPhone 6 Plus in which, mobile payment system feature is rolled out. Groupon Inc (NASDAQ:GRPN) immediately announced that it will integrate its transactions with Apple Inc. (NASDAQ:AAPL)’s new mobile payment system. According to Marino, Groupon Inc (NASDAQ:GRPN) can take advantage of this new integration and get a much needed up thrust in the market. He said that the company’s stock went down this year, which forced analysts to lower the estimates.
“Most of us remember Groupon Inc (NASDAQ:GRPN) from its unmemorable IPO and memorably bad roadshow leading up to the offering, so far, this year, shares are down more than 40% […],” said Marino.
Groupon Inc (NASDAQ:GRPN) went public in 2010, with a disappointing IPO of $13 billion, which was nowhere close to the expectations. The company’s stock went up for the first day of trading up to $31 and after that, the stock started coming down. Groupon Inc (NASDAQ:GRPN)’s stock came down to as low as $2.69. The company is currently trading below $7, but Apple Inc. (NASDAQ:AAPL)’s mobile payment system can certainly uplift this stock. In the second quarter of the current year, 50% of Groupon Inc (NASDAQ:GRPN) ‘s transactions were made from the mobile platform, which depicts the potential of Apple Inc. (NASDAQ:AAPL)’s mobile payment system in giving the increase in profits and fame to Groupon Inc (NASDAQ:GRPN).
Carl Icahn’s Icahn Capital LP is one of the shareholders of Apple Inc. (NASDAQ:AAPL), having approximately 52 million shares in in the company.
Jim Simons‘s Renaissance Technologies is one of the shareholders of Groupon Inc (NASDAQ:GRPN), having 550,000 of the company.
Free Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks
Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.
Suggested Articles:
Jobs That Will Always Be Needed
