Why Groupon Stock Soared More Than 15% Today

Shares of Groupon (NASDAQ: GRPN) were soaring today, up 15.5% as of 1:50 p.m. EDT. While there didn't seem to be any company-specific news to account for the rise, the first new trading day of the year is often one of reassessment and rebalancing. Groupon is down 34% over the past 12 months, so investors might now be rotating toward beaten-down stocks.

But perhaps most importantly, optimism over diminishing economic effects of the coronavirus omicron variant appears to be a big factor as well.

Image source: Getty Images.

Source Fool.com