Groupon, Inc. (NASDAQ:GRPN) Slides Further Down to a New Low

[[tagnumber 0]] [[tagnumber 1]] [[tagnumber 2]]Groupon, Inc. (NASDAQ:GRPN) stock continues the downtrend and this week it hit a new yearly low. Even though the company announced a share repurchase program earlier this year to support its shares, and undertook sale of assets, the stock is still losing value on the market.[[tagnumber 1]] [[tagnumber 4]][[tagnumber 5]][[tagnumber 1]] [[tagnumber 2]]On Tuesday, GRPN closed the session at $5.03 for a share, or a 0.69% loss from the previous session. Trading volumes are slowing down and some traders may expect finally an upward correction and a jump towards the 10–day moving average, though technical indicators still do not give any bullish signals.[[tagnumber 1]] [[tagnumber 2]]The company‘s financial results for the first quarter were not optimistic at all, showing that losses continue. What was even more disturbing was the resignation of the CFO Jason Child announced at the beginning of last month. His place was immediately taken by the company‘s former Vice President Brian Kayman. This has been announced as a temporary solution until a permanent one is found, yet it did not prevent the sliding down of GRPN stock.[[tagnumber 1]] [[tagnumber 2]]Also at the beginning of June, GRPN took more measures to save its stock. An extension of the previously announced share repurchase program has been approved by the company‘s Board of Directors. The amount of the share repurchases has been raised by another $200 million which will be added to the initial $300 million.[[tagnumber 1]] [[tagnumber 2]] [[tagnumber 1]] [[tagnumber 0]][[tagnumber 16]][[tagnumber 1]] [[tagnumber 2]]The repurchases can theoretically start immediately and continue through August 2017, however, the question remains how GRPN wants to finance the program as the company has not commented on that matter yet.[[tagnumber 1]] [[tagnumber 2]] [[tagnumber 1]] [[tagnumber 2]]In May, GRPN wholly owned subsidiary Trialblazer, Inc. completed the sale of its controlling stake of Ticked Monster, Inc. to a limited partnership jointly owned by three other entities. In exchange, Trialblazer received $285 million in cash while the rest of the price was paid with shares of a newly formed company the value of which is yet unknown.[[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]]