after buying Tesla stock last quarter.
The hedge fund raised its stake to 3.9 million shares, worth about $1.6 billion at the end of December.If Renaissance bought Tesla at $250 in October and sold at the $97o peak, it could have netted almost $3 billion.Renaissance Technologies may have netted over $1.5 billion in two months, as it bought a load of Tesla stock before it rocketed up 91% this year., founded by Cold War codebreaker and math professor Jim Simons, bought 3.
Renaissance's Tesla shares were worth about $1.6 billion then, based on Tesla's $418 stock price at the time. Given Tesla's shares now change hands at $800, the fund's stake is now worth almost $3.2 billion. That return would be remarkable enough, but Simons may have raked in closer to $3 billion if he bought into Tesla at the $250 mark in early October, then sold at the $970 peak earlier this month. At those price points, Renaissance's stake would have surged in value from less than $1 billion to almost $3.8 billion.
Tesla stock skyrocketed after the automaker posted strong earnings, opened its Shanghai factory in record time, and announced a production target of 500,000 vehicles this year. The rally has boosted Tesla's market capitalization to over $140 billion, surpassing the combined market caps of Ford, GM, and Chrysler, the "big three" US automakers.
_MichaelWhitton
Yep self perpetuating based all on what... Leaks and fake information
Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:
Россия Последние новости, Россия Последние новости
Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей
T-Mobile-Sprint merger just cleared its last hurdle - Business Insider - Business InsiderThe formation of New T-Mobile amid a time of flux in the US wireless market will have wide-ranging consequences for the US telecommunications space. Hi, Abercrombie and Fitch has Made in USA. AbercrombieandFitch
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »
Dell Nears Deal to Sell RSA Security Business to Private-Equity Firm STGDell Technologies is nearing a deal to sell its RSA cybersecurity business to a private-equity firm for more than $2 billion, according to people familiar with the matter. So which government owns STG? CIA is in the market now that its cryptology company’s cover was blown. Mixing greedy PE with cyber security. What could go wrong
Источник: WSJ - 🏆 98. / 63 Прочитайте больше »
SiFive VP Chris Lattner shares what he learned at Apple, Tesla, Google - Business InsiderThe former Apple engineer who created the programming language Swift has joined AI chip startup SiFive. Here's what he learned working at Apple, Tesla, and Google.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »
A German court has halted work on Tesla's Berlin Gigafactory over environmental concerns - Business InsiderIn November 2019 Tesla announced plans for a new Gigafactory near Berlin, but has been met with fierce opposition from local environmentalists. get rekt elongated musket Isn't it ironically a hoax? Hope they remove that plant
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »
Jeff Bezos says he's giving $10 billion to fight climate change - Business InsiderThe richest man in the world is giving about 7.7% of his $129.9 billion net worth to launch the Bezos Earth Fund, he announced on Instagram on Monday. Here comes the criticism He must give me 0.1% of his wealth. My problems would go away. That’s great. Now we’ll just wait for him to announce his run for president in 2024
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »
AMC Entertainment CEO Adam Aron's plans to fix a stock price drop - Business InsiderWall Street is betting AMC is in a downward spiral. Here's the inside story of how the world's biggest movie-theater chain is battling for a comeback.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »