Jim Simons' RenTech bet on Tesla
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RenTech - founded by former MIT math professor and Cold War codebreaker Jim Simons - ramped up its bet on Elon Musk's Tesla by 18% to 4 million shares last quarter. The purchases, coupled with a sharp surge in the electric-vehicle maker's stock price, lifted the value of RenTech's stake by 99% to $835 million as of March 31.
Notably, RenTech supercharged its Tesla bet in the fourth quarter of last year, growing it from 1,400 shares to 3.4 million. It first invested in Musk's automaker in 2013, and owned the equivalent of 59 million shares in 2019 — a position worth about $10 billion today.
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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L Yoyo : 31 Mar?!
ZnWCOP L Yoyo: Article posted on 16 May