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Groupon Inc (NASDAQ:GRPN) Jumps 13% On Hedge Fund Takes Stake – GRPN, FB, YHOO, BIDU, GOOG

Shares of Groupon Inc (NASDAQ:GRPN) surged over 13 percent, to $3.53 per share on Tuesday, following a New York-based hedge fund declared that it had purchased a 9.9 percent stake in the online daily deals firm.

Late Monday, Tiger Global reported in a regulatory filing that it has purchased 65 million shares of Groupon’s stock around Nov. 9. On Nov. 8, Groupon disclosed unsatisfactory quarterly results that plunged 29 percent of its stock price. Groupon’s shares have rose 35 percent since hitting an all-time low of $2.60 a share on Nov. 12.

Moving readers toward the broader market, let’s consider percentage change in stocks prices of other stocks in the similar sector who contribute major role in the market that includes Facebook Inc (NASDAQ:FB) gain +4.60%, Yahoo! Inc (NASDAQ:YHOO) edged up +0.41%, Baidu.com, Inc. (ADR)(NASDAQ:BIDU) which also decreased -2.82% and Google Inc(NASDAQ:GOOG) closed down -1.10%.

Groupon Inc(NASDAQ:GRPN) stock’s trade at beginning with a price of $3.46 and in ongoing trading session climbed at a high of $3.51 other than after it traded advanced +3.26% to $3.49.

The stock is going forward its 52 week low with 33.38% and lagging behind from its 52 week high price with -87.11%. GRPN last month stock price volatility remained 6.77%.

GRPN stock institutional ownership remained 52.93% while insider ownership included 0.29%. In its share capital GRPN has 655.72 million outstanding shares among them 361.92 million shares have been floated in market exchange.

 

Published by Lisa Ray

Lisa has a Bachelor of Arts in journalism from Purdue University and 3 years of experience in the publishing field.

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