Loading...
Loading...
Shares of Internet radio company Pandora
P were nearly three percent higher on Thursday after the 13F filing from Chase Coleman's Tiger Global revealed that the hedge fund had bought 8.45 million shares.
Tiger Global is primarily a value investing hedge fund, buying shares in companies that the fund believes are undervalued. Tiger Global took a stake in Groupon
GRPN back in November, when shares were near $3. Now trading around $6, Tiger Global has nearly doubled its investment in only a few months.
Evidently, Tiger Global sees similar value in Pandora. Shares of Pandora have been battered since the company went public. The Internet radio company has consistently bled money while rumors of a soon-to-be-launched Apple
AAPL radio service have hurt shares from time to time.
Pandora shares traded near $12.50 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in