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An $84B Hedge Fund Used Facebook's Struggles To Build A Massive Stake (fb) | Markets Insider

by markets.businessinsider.com posted 11months ago 61 views
Renaissance Technologies, a quant hedge fund that oversees $84 billion, bought up $479.5 million worth of Facebook between April 1 and June 30, regulatory filings show. The hedge fund was apparently "buying the dip" after the social network's scandal-ridden spring caused shares to plunge by 20% at the end of March. Watch Facebook trade in real time here. Renaissance Technologies, the $80 billion hedge fund founded by Cold War code breaker James Simons, seems to think the worst for Facebook is over.

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