UH OH: Groupon Is Under Investigation For A Sketchy Stock Spike

andrew mason

Photo: 60 Minutes screenshot

On the day Groupon reported its most recent earnings, the stock spiked by 20% out of nowhere.Then after the market closed Groupon’s earnings were a blowout, soundly beating Wall Street’s expectations.

Coincidence?

The Financial Industry Regulatory Authority, or Finra, is investigating to find out, the Wall Street Journal reports.

Right now the investigation is just in the early stages and there’s no word on which way it will go.

But, it sure looks like even when Groupon does something right, like good earnings, it does something wrong, like a weird stock spike.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

groupon sai-us