Jim Simons' RenTech fund supercharged its Tesla bet last quarter, boosting its value 1,000 times to over $400 million

Tue, 02/14/2023 - 06:01

Renaissance Technologies boosted its Tesla stake from 1,400 shares to 3.4 million last quarter.
The stock purchases lifted the value of RenTech's stake from under $400,000 to over $400 million.
Jim Simons' quantitative fund also ramped up its bets on Amazon and Apple in the period.

Renaissance Technologies boosted the size of its Tesla bet by more than 1,000-fold last quarter, making Elon Musk's automaker one of its largest holdings.