Groupon Inc (NASDAQ: GRPN) shares are
trading higher by $0.10 (2.7 percent) at $3.60 in Thursday's session.
The issue was trading near its low for the session, when there was unconfirmed
chatter that Alibaba Group Holding Ltd (NYSE: BABA), which already has a 5.6 percent stake, may be interested in buying the
company.
As a result, the issue rallied to $3.63, and as of 12:48 p.m ET, has not backed off that intra-day high. If the rally continues,
there may be additional resistance at the pair of highs from January 5 ($3.73) and January 6 ($3.74).
It should be noted that similar rumors were circulated in
March 2016, which instigated a rally to the $6.00 area. But as no deal surfaced, the issue went into an extended decline before
it found a temporary bottom on December 29 at $3.29.
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