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November 20, 2012 at 12:14 PM EST
Groupon Stock Jumps After Hedge Fund Buys 9.9% Stake
Shares of Groupon (GRPN) were up more than 13% midday Tuesday, after investment firm Tiger Global Management said it bought a 9.9% stake in the No. 1 online daily deals company. The New York-based hedge fund said it has acquired 65 million shares of Groupon, according to a late Monday regulatory filing with the SEC. At Groupon's midday trading price of 3.52, Tiger's investment is worth about $228.8 million. The hedge fund bought most of its stake
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