① Renaissance Technology bought nearly 3.82 million AMC cinema shares in the first quarter, held 8.7 million shares by the end of the quarter, and also opened a position to buy more than 1 million shares at GameStation; ② This week, these two “meme stocks” became one of the main battlegrounds in the US stock market for long and short.
Financial Services Association, May 17 (Editor: Zhao Hao) A week ago, quantitative investment legend James Simons (James Simons) passed away in New York City at the age of 86.
Simmons founded Renaissance Technologies LLC (Renaissance Technologies LLC) at age 40, pioneered the use of computer model signals to make trading decisions, and received the title “King of Quantitative Investment.” And this week, the quantitative fund's position report revealed his amazing features.
Renaissance Technology submitted a position report to the US Securities and Exchange Commission (SEC) as of March 27, 2024. This 13F table shows that the fund bought nearly 3.82 million shares in the first quarter$AMC Entertainment (AMC.US)$By the end of the quarter, the number of shares held had reached 8.7 million shares.
In addition, Renaissance Technology also opened a position in Q1 to buy more than 1 million shares$GameStop (GME.US)$. This week, these two “meme stocks” became one of the main battlefields in the US stock market's long and short game.
According to the market, AMC Cinemas once rose to 11.88 US dollars per share in the intraday session on Tuesday, while its closing price was only 2.91 US dollars last Friday, which is equivalent to a three-fold increase; GameStop once rose to 64.83 US dollars on Tuesday, which is a 270% increase from its closing price last Friday.
Despite significant declines on Wednesday and Thursday, the two stocks continued to rise nearly 60% this week. Analysts believe that the sudden rise in the two stocks appears to have been triggered by Keith Gill (Keith Gill), whose screen name is “Roaring Kitty” (Roaring Kitty).
In 2021, Gill encouraged a large number of retail traders to target bears and hedge funds that were pessimistic about the prospects of GameStop and other companies, forcing them to make up short positions, push up the price of target stocks, and create a history of “retail investors emptying Wall Street.”
Earlier this week, Jill posted an image on social media: “A man leaned forward in a chair and seemed ready to take another shot.” The post quickly garnered over 100,000 likes, and one user left a comment, “He who made hedge funds tremble is really back.”
If Renaissance Tech maintains its holdings in both stocks until this week, it will no doubt have made a huge profit. However, it should be pointed out that Form 13F only shows positions as of the end of March, and funds may have changed their positions during this month and a half.
Marco Iachini, senior vice president of research at Vanda Research, wrote in this week's report, “Quantification and hedge funds' ability to cope with retail emptying is getting stronger, and some institutions may even participate with retail investors.” Iachini also mentioned that after group stocks soared, there is a high possibility that funds will exit before retail investors.
The late Simmons once said, “Investing is an information war.” He believes investors should obtain as much information as possible through various channels and conduct in-depth analysis to better understand the market and develop effective strategies.
Editor/Somer