Groupon stock dives to lowest level since IPO

The Groupon shop in Singapore.
Jacqueline Seng/CNET Asia

(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. Groupon.com 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.

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