Deals
Groupon Surges in Trading Debut After IPO Prices Above Range
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Groupon Inc. advanced 31 percent in its trading debut as optimism about the company’s lead in the online-coupon market outweighed concern that ballooning costs and rising competition will drag on growth.
Shares of the Chicago-based company, listed under the symbol GRPN, climbed $6.11 to $26.11 at 4 p.m. New York time in Nasdaq Stock Market trading, after surging to as high as $31.14. Groupon raised $700 million selling 35 million shares at $20 each yesterday, the biggest IPO by a U.S. Internet company since Google Inc. first sold shares in 2004.