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Top Hedge Fund Bought 1m Gamestop Shares Before Meme Stock's 400% Jump

by businessinsider.com posted 2weeks ago 49 views
Hedge Funds
A world-beating hedge fund revealed it built a GameStop stake from scratch last quarter, making it a potential winner from the meme stock's explosive leap this week. Renaissance Technologies owned 1 million shares of the video-game retailer at the end of March, a position worth $13 million at the time, its first-quarter portfolio update shows. GameStop stock was up more than 400% at its Tuesday high, briefly valuing RenTech's stake at $65 million if still intact.

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