Groupon's Massive Stock Spike Seems To Have Been Based On False Reports – Analyst

andrew mason

Photo: Michael Seto / BI

Groupon stock spiked 23% on Friday.Why?

Ken Sena of Evercore Partners says shorts got squeezed on a “a swirl of speculative information and potentially false reports.”

Those reports were that…

…Andrew Mason was cancelling an appearence this week – implying a firing that shareholders covet

…and that Google was considering another acquisiton offer.

But Mason is going to speak at a conference called Mobile-Loco in San Francisco at 10am, and the Google report was just speculation from Bloomberg.

Sena writes: “We find no basis for these claims.”

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.