Groupon’s Struggle, Drafkings’ Offering
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 17 June 2020
⏱️ 14 minutes
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Summary
Groupon shares sink after a rough 1st-quarter report and a lot of question marks about the company’s direction. Draftkings announces a secondary stock offering just two months after going public. Maria Gallagher analyzes those stories and talks about her path to being a financial analyst as we dip into the Fool Mailbag.
Transcript
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| 0:00.0 | It's Wednesday, June 17th. |
| 0:04.3 | Welcome to Market Foolery. |
| 0:05.9 | I'm Chris Hill with me today, the one and only, Maria Gallagher. |
| 0:09.2 | Thanks for being here. |
| 0:10.3 | Thanks for having me. |
| 0:11.8 | We have got the business of sports. |
| 0:14.1 | We are going to dip into the full mail bag, |
| 0:16.0 | but we are going to start with some earnings. |
| 0:19.3 | And honestly, this is one of those situations |
| 0:21.6 | where you put earnings in air quotes, because we're talking about Groupon. |
| 0:25.3 | And the first quarter results, they actually weren't as bad as Wall Street was fearing. |
| 0:30.8 | Groupon still lost a lot of money and shares are down about 10% today. |
| 0:35.6 | Yeah, it was not a great quarter for Groupon. The shares fell, the sales fell 35% gross profit was down |
| 0:42.1 | 34%. They laid off or furloug |
| 0:45.2 | about 2,700 employees out of their 6,300 employees. And they also have a new |
| 0:51.0 | CEO and a CEO left. |
| 0:53.2 | So it's been a wild couple of months for Groupon, |
| 0:56.7 | and it hasn't been great. |
| 0:58.9 | Yeah, I'm glad you mentioned the management change |
| 1:01.2 | because that was something I sort of noticed this |
| 1:04.0 | morning when I was reading about this quarterly report and one of the statements was |
| 1:08.6 | from interim CEO Aaron Cooper. Aaron Cooper's been at Groupon for a decade or so, but I was like, well, wait a minute, what's the interim? |
... |
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