CHART OF THE DAY: This Chart Sent Groupon Crashing

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Groupon can’t buy a break. As it approached the public markets the company was taunted as a ponzi scheme. Its critics believed it would never really make money. They believed it was a flawed company.

Today, it’s cut back on marketing spending, revenue is growing, and shocker, it’s making money.

But fickle investors don’t care about that anymore. Their concern is that the company’s gross billings — a better indicator of the company’s core business, which is selling coupons — are down on a sequential basis.

chart of the day, groupon gross billings, aug 2012

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