Boston, MA 10\/21\/2013 (wallstreetpr) –\u00a0The global provider of goods and services to customers at discounted rates,\u00a0Groupon Inc (NASDAQ:GRPN) seems to have realized that it is its core competency which will help it get back to its former glory. Groupon helps bridging the gap between customers and thousands of merchants, by using discounts and other such tools. This matching mechanism is technical and requires technical expertise of engineering and other such fields. Company\u2019s recent decision to strengthen its engineering team seems to be an action towards this realization. Just a few days back, company made three high profile hirings. First is Brian McCallister, joining as Chief Technology Officer. Next is Stephen Deasy who joins as Vice President of Data and Infrastructure Platform Unit. And last one is Pete Webb, who would be joining as Vice President of Global Production Operations.<\/p>\n
Since a high of $26.19 during IPO days, shares of company crashed almost 90% to a pathetic $2.60 in November last year. But since then, company has renewed its focus and realigned its decision making to give priority to technical aspects of the business and this seems to be working. Company\u2019s share have risen more than 500% since its lows in November.<\/p>\n
But recent correction from $12.76 to current price of $10.65 has resulted in mixed reactions from analysts. One section of the analyst community feels that company may see better times in near future as it is investing heavily in human capital which is going to be instrumental in turning around the company. The company also plans to reduce its dependence on push based strategy and is increasingly focusing on pull-type-of-demand. Company now wants to attract most customers to its own website instead of just bombarding these potential deal stalkers\u2019 inboxes with discount coupons. These developments, change in strategy, alongwith company\u2019s scheduled declaration of quarterly earnings on 6th November 2013, has resulted in significant buildup in long positions by medium term traders. These people are looking to make profits from company\u2019s stock in medium term.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 10\/21\/2013 (wallstreetpr) –\u00a0The global provider of goods and services to customers at discounted rates,\u00a0Groupon Inc (NASDAQ:GRPN) seems to have realized that it is […]<\/p>\n","protected":false},"author":32,"featured_media":10674,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[3382,1819,416,833],"stock_ticker":[],"class_list":["post-10673","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-groupon-inc","tag-groupon-inc-nasdaqgrpn","tag-grpn","tag-nasdaqgrpn","entry"],"acf":[],"yoast_head":"\n