market folly

Chase Coleman's hedge fund Tiger Global has filed a 13G with the SEC regarding shares of Etsy (ETSY).  Per the filing, Tiger Global now owns 8.9% of the company with 10 million shares.

The company recently completed its initial public offering (IPO).  After trading as high as $36 on its opening day, shares have since plunged down to $15.95 over the past two months.

Keep in mind that Tiger had already invested in Etsy at a lower valuation (pre-split value of $5.30) while the company was still a private entity back in April 2014.

We've also recently highlighted some other Tiger Global portfolio activity as well.

Per Google Finance, Etsy "operates a marketplace where people connect, both online and offline, to make, sell and buy goods. The Company operates at the center of macroeconomic trends in online and mobile commerce, employment, consumption and manufacturing. Its sellers offer goods in online retail categories, including jewelry, stationery, clothing, home goods, craft supplies and vintage items."