/// Can the Hedge Fund Dudes Save Groupon’s Stock?
Here’s something you haven’t seen in a while: Groupon shares rose more than 36 percent last week after Chase Coleman’s Tiger Global Management disclosed Monday that it had bought 65 million shares. The well-known hedge fund, which has also bought decent-sized stakes in both Yahoo and Facebook recently, actually purchased the stock of the much-beleaguered daily deals company on November 9, according to its filing with the Securities and Exchange Commission . At the time, the social deals company was at $2.76, down about 90 percent from its IPO a year ago. That’s nearly a 10 percent stake overall. It seems to be part of a hedge fund party. Paul Tudor Jones of Tudor Investments also disclosed a small Groupon buy of 150,000 shares last week — as well another from George Soros’ Soros Fund Management, which recently disclosed it had bought 2.5 million shares of Groupon. Groupon stock closed at $3.95 Friday, a huge improvement — though still massively off its IPO price
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Can the Hedge Fund Dudes Save Groupon’s Stock?
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