Renaissance Technologies Piled Into GameStop, AMC Ahead of Rally
- Fund bought AMC, GameStop stock in first quarter, filings show
- Shares surged this week in a revival of 2021’s meme trade
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Renaissance Technologies LLC, the quantitative fund founded by the late Jim Simons, loaded up on shares of meme-stock darlings AMC Entertainment Holdings Inc. and GameStop Corp. ahead of the latest rally.
The hedge fund bought 3.82 million shares of AMC in the first quarter of 2024, adding to its position in the movie theater chain, according to regulatory filings. At the same time, Renaissance also snapped up 1 million shares of GameStop, revealing a new position during the three months ending March 31, filings show.