Groupon's Stock Soars Again; Alibaba's Stake Gets $37 Million Boost In 2 Days

By Tomi KilgoreMarketWatch Pulse

Groupon Inc.'s stock soared 16% in active premarket trade Tuesday, after China's e-commerce giant Alibaba Group Holding Ltd. disclosed late Friday that it had acquired at 5.6% stake in the daily deals company. The price jump comes a day after the stock rocketed 29% on the heels of better-than-expected results and an upbeat outlook. In a filing with the Securities and Exchange Commission, Alibaba said it owned 32.97 million shares of Groupon as of Dec. 31, which would make it Groupon's fourth largest shareholder. At the current premarket price of $3.36, Alibaba's stake in Groupon has increased in value by $36.93 million in two sessions, and would now be up by about $9.6 million year to date, if it has kept its stake intact.

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