market folly

John Griffin's hedge fund Blue Ridge Capital recently filed a 13G with the SEC and disclosed a new stake in Zulily (ZU).  Per the filing, Blue Ridge now owns 6.05% of the company with 799,811 shares.

The company recently completed its initial public offering (IPO) on November 14th.  It priced at $22 per share, above the expected range, and now trades around $38.

Per Google Finance, Zulily is "an e-commerce company. The Company, through its desktop and mobile Websites and mobile applications, which it refers to as its sites, helps its customers discover new and unique products. The Company provides moms with a selection of over 4,500 product styles offered on a typical day through various flash sales events, which are limited-time curated online sales of selected products launched each day on its sites. The Company offers merchandise primarily targeted at moms purchasing for their children, themselves and their homes. Its merchandise includes children’s apparel, women’s apparel, and other product categories, such as toys, infant gear, kitchen accessories and home decor The Company sources its merchandise from thousands of vendors, including emerging brands and smaller boutique vendors, as well as larger national brands.The Company offers merchandise primarily targeted at moms purchasing for their children, themselves and their homes."

We've posted additional recent portfolio activity from Blue Ridge here.