Tiger Global Takes a Chunk of Groupon
November 20, 2012 by Trey Thoelcke
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
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