Sunday, 29 November 2015
Last updated 2 days ago
Nov 20 2012 | 1:32pm ET
One of the hottest hedge funds around thinks that Groupon Inc. has been kicked around enough.
Tiger Global Management has bought a nearly 10% stake in the Chicago-based online coupon company, it said in a U.S. Securities and Exchange Commission filing. The New York-based hedge fund's 65 million shares are worth about $200 million.
Groupon shares have lost some 80% of their value since the company's initial public offering a year ago. It's also the third struggling Internet the hedge fund, which is up more than 25% this year, has added to its portfolio, after Facebook Inc. and Yahoo! Inc.
Groupon hit a record low last week after it missed its third-quarter revenue projection. But Tiger Global's interest has led to a rally that pushed Groupon to a four-month high.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…