Groupon shares (NASDAQ:GRPN) closed at 4.42, 11.62 percent above yesterday’s level. CEO Andrew Mason’s interview was highly anticipated today. Yesterday, AllThingsD reported that the board questioned Mason’s vision.
Mason didn’t try to deny or pretend that nothing happened. Instead, he was very candid, going so far as to say that he would fire himself if he thought he wasn’t the right man for the job. He didn’t try to hide that investors currently have doubts.
Groupon has had a tumultuous year, with shares falling from a 25.84 high point on February 8. At 4.42, it represents an incredible 82.9 percent downturn. Mason even said that with such a decrease, board members have to question his legitimacy. Otherwise they wouldn’t be doing their jobs properly.
After defending his position, Mason outlined why he believed in Groupon. It was all about the company’s future, with goods deals and international markets as the two key elements of Groupon’s success.
Yet, an 11.62 percent increase represents a small market capitalization gain when shares are trading at such a low level. Groupon’s market cap is $2.9 billion tonight. Mason said that shares won’t trade above 20 any time soon.