5 Tech Stocks Under $10 That Are Poised To Explode

2. Groupon Inc (NASDAQ:GRPN)

Investors with Long Positions (as of June 30): 34

Aggregate Value of Investors’ Holdings (as of June 30): $220.28 Million

There was one hedge fund less invested in Groupon Inc (NASDAQ:GRPN) at the end of the second quarter compared to the prior one. Likewise, the value of the hedge funds’ investments in the stock fell by $199.41 million over this period. Groupon went public back in 2011, after rejecting a $6 billion offer from Google Inc. (NASDAQ:GOOGL). It was seen as a rising “star” at the time, but the company has not been able to surprise the market after its IPO. The shares of Groupon have been on a steady downtrend since the beginning of the year, losing almost half of their value year-to-date. The fierce competition in the e-commerce industry has hindered the company’s growth over the last few years. Even so, Groupon delivered a strong financial performance in the second quarter, posting revenue of $738.4 million, up from $716.2 million a year ago. Israel Englander’s Millennium Management reported owning 9.82 million shares in its latest 13F filing with the SEC.