Omega’s Cooperman: Groupon (GRPN) Worth Up to 50% More Than Its Current Price

Shares Groupon Inc (GRPN) surged more than 6 percent to $7.27 on Wednesday after Leon Cooperman of Omega Advisors said the internet coupon company was worth up to 50% more than its current pps.

“The stock seems mispriced…We think it’s worth 40-50% more than it’s trading and [its] fundamental business is improving”, Cooperman, whose fund took an 8.8 million share stake in Groupon in 3Q, told CNBC. He said Groupon business was turning around.