Groupon stock hits new low

A sign marks the location of the Groupon headquarters on Nov. 30, 2010 in Chicago, Ill.
Scott Olson/Getty Images

(CBS/AP) SAN FRANCISCO - Groupon Inc.'s (GRPN) stock fell to a new low, days after the online deals company issued a disappointing earnings report.

Groupon fell 32 cents, or 6 percent, to close on Thursday at $5 per share. Earlier it hit $4.97, its lowest level since its initial public offering in November. The stock's price has lost 75 percent of its value.

On Monday, Groupon reported its first-ever quarter-to-quarter decline in gross billings. That's a closely watched number because it measures how much money is collected from merchants.

The number of active customers grew just 3 percent from the first quarter. The average spending per customer over the past 12 months was $165. That's down from $179 in the first quarter.

Benchmark analyst Clayton Moran downgraded Groupon's stock Tuesday. He called the results "discouraging."

Groupon gets slammed by unrealistic investors
Groupon shares fall 19 percent as sales disappoint
Watch: Groupon disputes it's reason new small biz failed