Groupon Inc (NASDAQ:GRPN) down by 1.28%, iShares Silver Trust (NYSEARCA:SLV)

Posted by Lacee Page May 8, 2013 0 Comment 1318 views


Groupon Inc (NASDAQ:GRPN): In Tuesday’s trading session, shares of Groupon Inc (NASDAQ:GRPN) dropped by 1.28%. The opening price of the shares was $5.50 which reached an intraday high of $5.60 before dipping to $5.37 per share. Over 13.25M shares were traded in Tuesday’s trading session which was lower than the average volume of 13.42M that was measured over a period of 30 days.

Analysts are still shaky about the company’s earnings and over the past few months have brought down their estimates. The projections for the first-quarter have been $0.02 per share off the mark. In addition to this, the 2013- full year projection has been twice that figure. Ironically, there has been a 4% gain in the stock since late January. Growing competition the markets from biggies such as Amazon had forced Groupon to veer towards reselling. This business used to be conducted for manufacturers who were overstocked with merchandise. This business was essentially one that gave the company lower margins and it also did not use its social-media strengths. The Company’s China market expansion plans have also come to nil with local Chinese players like Alibaba flexing its muscles there.

iShares Silver Trust (NYSEARCA:SLV): In Tuesday’s trading session, shares of iShares Silver Trust (NYSEARCA:SLV) dropped by 0.35%. The opening price of the shares was $22.79 which reached an intraday high of $23.16 before dropping to $22.70 per share. Over 10.94M shares were traded in Tuesday’s trading session which was lower than the average volume of 11.61M that was measured over a period of 30 days.

iShares Silver Trust (NYSEARCA:SLV) owns silver that has been transferred to it. In lieu of this silver the Trust issues shares. Every share is a representation of a segment of undivided beneficial interest in the Trust’s net assets. The Trust’s assets are in the form of silver. On behalf of the Trust, its custodian is in charge of the silver. BlackRock Asset Management International Inc is the Trust sponsor and The Bank of New York Mellon is its trustee. JPMorgan Chase Bank N.A., London branch is the iShares Silver Trust (NYSEARCA:SLV) custodian.


About Lacee Page

Lacee Page is our White House and political campaign reporter. Lacee also covers justice and national law enforcement issues and congressional reporter focusing on the outputs of the legislative process: government spending, agency regulation and congressional oversight. Lacee received a national Edward R. Murrow for spot news award and the regional Associated Press award for best newscast. Lacee attended Riverview High School near Coshocton, and graduated from Ashland College in Ashland, Ohio with a Bachelor of Arts degree in Communications.

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