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Groupon shares take fresh hit as new CEO outlines strategy

Group posted US$27.6m quarterly loss; to invest in customer acquisition, streamline global ops

San Francisco

TAKE another discount on the stock price: Groupon fell hard on Wednesday as the company's new chief executive laid out his strategy in the face of weakening sales.

In midday trade, the daily deals group Groupon traded down 27 per cent at US$2.93 - after already