These Stocks Under $5 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

One less hedge fund had Groupon Inc. (NASDAQ:GRPN) in its portfolio at the end of the second quarter compared to the previous one. The hedge funds tracked by our team owned 6.50% of the company’s outstanding common stock on June 30. Groupon’s stock did not deliver a great performance during the third quarter, losing slightly more than 35%. Even more to that, the stock has been on a freefall since the beginning of the year, which does not appear to be nearing a halt any time soon. The company’s underperformance can be attributed to the fierce competition within its e-commerce industry. Just recently, Groupon launched a new program Groupon to Go, which offers food-delivery deals that enable its customers to save up to 10% on each order. Thus, it remains to be seen whether the upcoming earnings report will mark the company’s turnaround. Jim Simons’ Renaissance Technologies was the largest shareholder of Groupon Inc. (NASDAQ:GRPN) at the end of the second quarter within our database, holding 9.96 million shares.