Hedge fund Tiger Global beaten up by tech selloff: CNBC

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Tiger Global Management, a hedge fund run by Chase Coleman, has lost more than 50% of its value in 2022 including a 14.3% drop in May, according a report by CNBC. The losses came after Tiger Global bet on tech stocks in the first quarter including Snowflake Inc. SNOW, +9.58%, Sea Ltd. SE, +4.13% and Carvana Co. CVNA, +13.55%, CBNC reported, citing regulatory filings. Snowflake has lost 60% of its value in 2022, while Carvana is off by nearly 88% and Sea is down by 63%. The Nasdaq COMP, +2.69% has lost about 22% of its value this year.

This article was originally published by Marketwatch.com. Read the original article here.

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