Sunday, 28 December 2014
Last updated 5 hours 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.