"Stocks Surge as Groupon, Wynn Resorts, and Plug Power Lead Midday Market Moves"
Originally Published 2 years ago — by CNBC
Groupon, Wynn Resorts, Plug Power, and Illumina are among the stocks making significant moves midday, according to CNBC.
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Groupon
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Groupon's Uncertain Future: Lease Terminations and Weak Earnings.
Originally Published 2 years ago — by Chicago Tribune
Groupon, the Chicago-based online marketplace, issued a "going concern" warning during a weak Q1 earnings report, indicating the company could be insolvent within a year. The company also disclosed it was terminating the lease at its massive River North headquarters two years early. Groupon had a net loss of $29 million in Q1 and about $164 million in cash left as of March 31. The company has been downsizing and retooling amid declining revenues, with two rounds of layoffs eliminating a total of 1,000 positions. The new CEO outlined an eight-point transformation strategy to turn the company around.
Groupon's Financial Woes Lead to Early Termination of Chicago HQ Lease
Originally Published 2 years ago — by Crain's Chicago Business
Groupon is terminating its lease for its Chicago headquarters two years early, paying a $9.6 million termination fee to end its commitment. The move comes as the struggling online-deal company risks running out of cash and warns investors that it may not remain a "going concern." The termination will create a big leasing challenge for developer Sterling Bay, which will soon be saddled with a big block of vacancy at a bad time to be hunting for new tenants.
Groupon's Struggles Continue with Weak Earnings and Survival Warning.
Originally Published 2 years ago — by Barron's
Groupon, the internet-deals site, warns that it may not survive as its stock tumbles following weak earnings. The company has struggled since going public 12 years ago and faces a day of reckoning as it tries to gain a foothold in online commerce.
"Financial Struggles and Legal Battles: The Downfall of Virgin Orbit"
Originally Published 2 years ago — by TechCrunch
Virgin Orbit lays off 85% of its workforce due to lack of funding; ByteDance's Lemon8 app rises in the US App Store as a potential TikTok replacement; Groupon appoints Dusan Senkypl as interim CEO; Lyft may drop shared rides and other features to focus on core ride-hailing business; Canoo settles with the SEC for $1.5 million.