Tiger Global Takes a Chunk of Groupon

An SEC filing shows that Tiger Global has taken a 65 million share position (9.9%) in Groupon Inc. (NASDAQ: GRPN). That certainly will press its shares higher, at least temporarily.

Tiger is one of the oldest and most well-known hedge funds in America. Plenty of analysts will believe that Tiger has made a good bet as Groupon shares trade at $3, down from a 52-week high of almost $26. Tiger may have called a bottom because it would take almost no positive news to reverse the sell-off.

But the majority opinion will be that Tiger has wasted its money. Groupon has too many competitors, both privately held ones and public companies like Amazon.com Inc. (NASDAQ: AMZN) and bricks-and-mortar giants such as Wal-Mart Stores Inc. (NYSE: WMT). Groupon only needs one more bad quarter to press its shares toward $2.

But shares of Groupon are up more than 4% in premarket trading to $3.24 so far this morning.

Douglas A. McIntyre


Filed under: 24/7 Wall St. Wire, Internet, Retail Tagged: AMZN, GRPN, WMT
Read Full Story
  • DJI26202.73240.290.93%
    NASDAQ8020.2171.650.90%
  • NIKKEI 22520619.200.630.00%
    Hang Seng26040.98-229.06-0.87%
    DAX11802.85151.671.30%
  • USD (PER EUR)1.11-0.0007-0.07%
    USD (PER CHF)1.02-0.0006-0.06%
    JPY (PER USD)106.44-0.1520-0.14%
    GBP (PER USD)1.21-0.0011-0.09%