Groupon shares were up 8 percent, to $3.38, in late trading on the Nasdaq a day after New York-based hedge fund Tiger Global Management disclosed it had taken a 9.9 percent stake in daily deals company.
The battered stock had been up as much as 13 percent earlier in the session.
The firm's filing with the Securities and Exchange Commission said it owns 65 million shares of Class A common stock amassed around Nov. 9, one day after Chicago-based reported disappointing third-quarter earnings that sent its stock reeling.
Groupon went public in November 2011 at $20 a share and hit an all-time low of $2.63 on Nov. 13. It has since rebounded and closed 4.2 percent higher at $3.11 Monday, though it remains down 85 percent year-to-date.
Company co-founders Andrew Mason, Eric Lefkofsky and Brad Keywell continue to control roughly one-third of Groupon's Class A stock. They also hold all of the company's Class B stock, which gives them much bigger voting rights than other shareholders.
According to Bloomberg, Tiger Global Management has recently disclosed stakes in other technology companies such as Yahoo and Facebook.
Distributed by MCT Information Services
Most Popular Stories
- Aetna Leaving California's Individual Health Insurance Market
- Honda Says Sorry About the Lack of Electric Fits
- Calories Count: Starbucks to Post the Numbers on Menu Boards
- Comcast Takes a Stake in a YouTube Content Provider
- OSH Selling Most of Its Stores to Lowe's
- First Person Cured of AIDS Virus Wants to Help Others
- Katy Perry: Learned About Divorce Via Text Message
- Is Stock Balloon Really a Pinata?
- Google Wants to Share PRISM Information
- Charitable Giving Sees Encouraging Growth