George Soros, Steve Cohen, and Jim Simons' funds piled into Tesla and other trendy names last quarter, while Jim Chanos took aim at meme stocks. Here's a roundup of 5 key trades.
about 42,000 Tesla shares last quarter. The purchases increased its stake by almost half to around 132,000 shares, worth over $16 million as of December 31.
George Soros' fund also bought bullish call options on another 200,000 shares of the automaker. Those likely paid off, given the roughly 60% rise in Tesla's stock price this year.Steve Cohen's Point72 Asset Management grew its stash of Tesla call options from 50,000 to 60,500 last quarter. The New York Mets owner's hedge fund also purchased 878,000 Tesla shares worth $108 million at the end of December, propelling Musk's company into the top 60 of its nearly 1,500 holdings at the year end.
Moreover, Point72 built a new stake in GameStop, the video-game retailer that became the ultimate meme stock in January 2021. The fund's 606,000 shares were worth $11 million as of December 31.
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