Groupon Inc slumped more than 14 percent on Monday, leaving shares of the largest daily deal company close to its $20 initial public offering price.

Groupon shares fell $3.55 to as low as $20.06 in late morning action. The company was the third-largest decliner on Nasdaq.

Groupon raised more than $700 million in an IPO in early November, pricing its public shares at $20 each.