Watch CBSN Live

Groupon stock dives to lowest level since IPO

(CBS/AP) NEW YORK - Groupon's (GRPN) stock fell on Wednesday to its lowest level since last November, when the online deals company went public, amid concerns about traffic to its website and its exposure to Europe's weak economy.

Internet trends tracker ComScore Inc. (SCOR) says traffic to Groupon declined 15 percent in June from a year earlier. had about 12.2 million unique visitors last month from 14.5 million in June 2011.

In addition, a Citi Investment Research analyst expressed some concerns about Groupon's exposure to Europe and its weak economy. Mark Mahaney says Groupon gets a quarter of its revenue from Europe.

Shares of Groupon Inc. fell 54 cents, or 6.5 percent, to close at $7.77 on Wednesday. Earlier it hit an all-time low of $7.72. Groupon's stock priced at $20 per share when it went public.

Groupon amends practices after probe
Groupon restatement sparks more worries
Groupon stock tumbles as IPO lock-up period ends

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.