NEW YORK (TheStreet) -- Shares of Groupon (GRPN) rose 6.05% to $7.09 in afternoon trading Wednesday after the online deals company announced its integration with Apple's (AAPL) upcoming Apple Pay, the tech giant's own version of a mobile wallet.
"Bringing Apple Pay to the Groupon mobile app makes it easier than ever to find and buy the best things around you," said Groupon CEO Eric Lefkofsky. "With nearly 92 million app downloads worldwide and more than half of our transactions occurring on mobile devices, Groupon is one of the largest mobile commerce companies in the world."
Groupon is already firmly entrenched in Apple's App Store, as its app is one of the top 25 free downloads. App Annie reports Groupon is the third-most popular lifestyle app on iOS in the U.S.
Separately, TheStreet Ratings team rates GROUPON INC as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate GROUPON INC (GRPN) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."