Groupon gains as Legg Ma­son's Miller sees growth

The Pak Banker - - COMPANIES/BOSS -

Groupon Inc. (GRPN) gained the most in two weeks af­ter Legg Ma­son Cap­i­tal Man­age­ment Chair­man Bill Miller said the largest daily-deal web­site has a "tremen­dous" op­por­tu­nity for growth. The shares rose 6.1 per­cent to $5.39 at the close in New York, for the big­gest gain since March 4. The stock has climbed 11 per­cent this year, com­pared with a 9.8 per­cent in­crease for the Rus­sell 1000 In­dex. "They have no debt; they have an enor­mous ad­dress­able mar­ket," Miller said in an in­ter­view to­day on CNBC. "Ex­pec­ta­tions are low. An­drew is a very smart guy," he said. "He did a great job build­ing the busi­ness. Maybe the busi­ness is a lit­tle too com­plex for a guy who is 31 or 32 years old."

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