Renaissance Technologies Jumps on the GameStop, AMC Hype Train

Renaissance Technologies Jumps on the GameStop, AMC Hype Train
Renaissance Technologies Jumps on the GameStop, AMC Hype Train

Renaissance Technologies bought GameStop, AMC shares, filing says

Hedge fund Renaissance Technologies added a new long position in GameStop and significantly increased its position in AMC Entertainment during the first quarter.

Renaissance added 1,004,958 shares of videogame retailer GameStop during the quarter, which had a value of approximately $12.6 million at the end of March.

Quarterly disclosures of hedge fund managers' stock holdings are one of the few public ways of tracking what hedge fund managers are selling and buying. The disclosures are made 45 days after the end of each quarter and may not reflect current positions.

GameStop shares are up more than 93% for the week and up more than 300% over the last 10 trading days.

Renaissance also increased its position in cinema chain AMC by 78% during the first quarter to give it a total of approximately 8.7 million shares.

Shares of other companies, including AMC, headphones maker Koss, and food storage container company Tupperware, have followed GameStop higher. Like GameStop, many of the stocks are heavily shorted.

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