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Stock Alert: Groupon Down 25%

Shares of Groupon Inc. (GRPN) are slipping nearly 25% on Thursday morning. The online discount coupon service on Wednesday announced a 1-for-20 reverse stock split in order to boost its low stock price.

GRPN is currently trading at $21.18, down $6.62 or 23.81%, on the Nasdaq.

The reverse stock split became effective at 5:00 p.m. Eastern time on June 10, 2020. However, the stock did not seem to respond positively to the news. Groupon had closed Wednesday's trading down 13%.

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