While the customer increase seems like a promising sign, Groupon still looks like a fundamentally flawed business. A sequential increase in the customer base of 4% should have led to more than a year-over-year increase in revenue of 2%.
Groupon Inc (NASDAQ:GRPN) stock had quite a ride so far in 2016. In February, it more than doubled. After it reported first-quarter earnings in April, Groupon stock plunged more than 25% in a few trading sessions.