Hedge Fund Investment Pulls Zynga, Groupon Shares Out of the Weeds

Zynga and Groupon shares shot up seven percent and five percent, respectively, on news of an investment from hedge fund Jana Partners, first reported by Reuters earlier this morning. The long-term picture of both companies’ stock prices has been less than rosy. After peaking in March 2012 at close to $15 per share, Zynga hasn’t risen above the $5 threshold in nearly a year. Meanwhile, Groupon has similarly remained below $10 per share in the same time frame, peaking shortly after its November IPO close to $26 per share.