Hedge Funds Pitch Crypto Platform, Japanese Lasers, Steel Producers and More (Bloomberg)
Chinese steel producers, a cryptocurrency platform, Japanese lasers and parking lots and a Vietnamese jeweler were among bets pitched by Asia hedge funds at the Sohn Investment conference in Hong Kong. Keita Arisawa, founder and chief investment officer of Seiga Asset Management is bullish on Tokyo-listed QD Laser Inc. Marshall Wace Asia Chief Executive Officer Amit Rajpal is backing digital broker Monex Group Inc. Rajesh Sachdeva, founding partner of Flowering Tree Investment Management, is betting on Vietnam’s Phu Nhuan Jewelry JSC, while Oasis Capital Management called for a merger of two of China’s biggest steel makers.
Alphawave Lures £11m Hedge Fund Short Bet After Rocky IPO (Financial News)
Carmignac Gestion has taken the first major short position against Alphawave, after the semiconductor tech firm suffered a rocky start to its London debut. The European hedge fund disclosed a short position of around 0.52% of Alphawave shares on 19 May, according to filings published by the Financial Conduct Authority and analysed by research firm Breakout Point. That equates to a bet of roughly £11.4m, based on a market capitalisation of £2.2bn.
Billionaire Steven Cohen Snaps Up Shares of Uber: Here’s What You Need to Know (Nasdaq.com)
One such Wall Street guru is Steven Cohen. As Chairman and CEO of Stamford, Connecticut-based Point72 Asset Management, Cohen leads a 1,650-person registered investment advisory firm. Cohen and his firm are well renowned in the financial community. In 2020, Point72 posted a 16% gain. Additionally, according to Forbes, as of May 2021, Cohen’s net worth is around $16 billion. Cohen has been in the investing business since the 1970s. He founded S.A.C. Capital Advisors in 1992, and in 2014, converted his investment operations to the Point72 Asset Management family office. Sports fans might also recognize him as the owner of the New York Mets major league baseball team. Recently, Point72 upped its stake in Uber Technologies, Inc. (UBER). The stock, with its considerable upside potential, could really thrive in the economic recovery.
The Average Billion-Dollar Club Hedge Fund is Up 6.1% YTD After a 2.5% Gain in April (Opalesque)
Opalesque Industry Update – Hedge funds managing over $1bn outperformed their sub-$1bn peers in April, aided by another surge in event-driven performance, said HFM. The billion-dollar club (BDC) hedge funds rose 2.5% last month compared to an average 2.2% gain in the sub-BDC range, but the latter group remains ahead YTD, up 7.6% versus a BDC gain of 6.1%. A renewal in corporate dealmaking helped merger arbitrage advance in April to maintain the performance momentum in event-driven. The big gains gleaned from backing Spac-structures, which boosted returns in January and February, have been less of a recent performance driver.
Thursday 5/20 Insider Buying Report: APP, VNRX (Nasdaq.com)
At Applovin, a filing with the SEC revealed that on Monday, Director Eduardo Vivas purchased 16,883 shares of APP, for a cost of $59.23 each, for a total investment of $1M. Vivas was up about 15.7% on the buy at the high point of today’s trading session, with APP trading as high as $68.55 in trading on Thursday. Applovin is trading up about 5.1% on the day Thursday. And also on Monday, Director Guy Archibald Innes bought $502,500 worth of VolitionRx, buying 150,000 shares at a cost of $3.35 each. VolitionRx is trading up about 2.1% on the day Thursday. Innes was up about 10.4% on the buy at the high point of today’s trading session, with VNRX trading as high as $3.70 in trading on Thursday.
The Shareholder of New Found Gold Corp (Other OTC: NFGFF) is Buying Shares (Analyst Ratings)
Yesterday, the Shareholder of New Found Gold Corp (NFGFF), Eric Steven Sprott, bought shares of NFGFF for $1.73M. Following Eric Steven Sprott’s last NFGFF Buy transaction on April 26, 2021, the stock climbed by 2.0%. Following this transaction Eric Steven Sprott’s holding in the company was increased by 1% to a total of $207 million.
