Renaissance Technologies bought a large stake in GameStop and increased AMC position in Q1, aligning with the meme stock rally.
Hedge fund Renaissance Technologies bought a large stake in GameStop and increased its position in AMC Entertainment in Q1, aligning with the meme stock rally. The fund added 1,004,958 GameStop shares worth $12.6M at end-March, and increased its AMC position by 78% to 8.7M shares. If GameStop's share value continues to surge (300% in 10 days), Renaissance Technologies' stake could be worth $33.5M.
May 15, 2024
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