Hedge Fund News From HedgeCo.Net

Hedge Funds Find Tech Stocks in the Bargain Bin

BusinessWeek – Fans of tech stocks and train wrecks got to combine their interests in 2012, as several high-profile companies endured an awful year: Shares of Facebook are off 31 percent, Zynga is down 73 percent, and Groupon is at negative 79 percent. Yahoo! struggled, Netflix fell, and even Apple had a rough stretch that lopped off a quarter of its value.

Along the way, some of these stocks became so battered that they began to look like steals to hedge fund managers. The latest example is a 9.9 percent stake in GrouponĀ announcedĀ Nov. 20 by Tiger Global Management, the $8 billion hedge fund run by Chase Coleman and Feroz Dewan.

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