Report: Regulator reviewing Groupon trading
BY SANDRA GUY Business Reporter email@example.com May 18, 2012 6:20AM
Updated: May 18, 2012 2:24PM
The Wall Street Journal reported Friday that a regulator with the Financial Industry Regulatory Authority, or Finra, is reviewing trading in Groupon stock that boosted the Chicago daily deal site’s share price hours before Groupon announced its earnings on Monday.
The Journal, citing unnamed sources, said the review has just started, and no conclusion has been reached.
Groupon declined comment on Friday.
Groupon shares jumped 18.5 percent on Monday from the market’s close the previous Friday. Groupon announced its earnings Monday after Wall Street had closed. Groupon announced an 89 percent spike in revenue from the previous year, sending the shares up again in after-hours trading.