Should You Follow Jim Simons’ Lead and Jump on AMC Stock?

InvestorPlace2021-08-24

InvestorPlace’s Brenden Rearick reported on Aug. 17 that Renaissance Technologies upped its stake in AMC Entertainment(NYSE:AMC) in the second quarter by 260%. The hedge fund now owns more than 1.8 ...

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Comments

andrew123
2021-08-25
andrew123
R the millions david back in action?
Andaroo
2021-08-25
Andaroo
Hello my fellow AMC apes. Hodl to the moon babyyyy
RyantKing
2021-08-24
RyantKing
Been here since January, what a joke r u
tradingnoob
2021-08-24
tradingnoob
Yes. Follow Simons. Don't go against Renaissance
happydylan
2021-08-24
happydylan
Oh
jieneng
2021-08-24
jieneng
Like please
- andrew123:
  done.like back

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The hedge fund now owns more than 1.8 ...</p>\n\n<a href=\"https://investorplace.com/2021/08/should-you-follow-jim-simons-lead-and-jump-on-amc-stock/\">Source Link</a>\n\n</div>\n","source":"lsy1606302653667","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Should You Follow Jim Simons’ Lead and Jump on AMC Stock?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShould You Follow Jim Simons’ Lead and Jump on AMC Stock?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-24 22:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/08/should-you-follow-jim-simons-lead-and-jump-on-amc-stock/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>InvestorPlace’s Brenden Rearick reported on Aug. 17 that Renaissance Technologies upped its stake in AMC Entertainment(NYSE:AMC) in the second quarter by 260%. The hedge fund now owns more than 1.8 ...</p>\n\n<a href=\"https://investorplace.com/2021/08/should-you-follow-jim-simons-lead-and-jump-on-amc-stock/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AMC","symbol_name":"AMC院线","start_time":0,"source_url":"https://investorplace.com/2021/08/should-you-follow-jim-simons-lead-and-jump-on-amc-stock/","article_id":"1118577467","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1118577467","pubTimestamp":1629816458,"sourceInfo":{"source_id":"lsy1606302653667","name":"InvestorPlace"},"weMediaInfo":null,"summary":"The hedge fund billionaire owns more than 1.8 million shares of AMC stock","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"AMC":"AMC院线"},"translate_title":"你应该效仿吉姆·西蒙斯的做法，跳投AMC的股票吗？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMC":0.9},"content_text":"InvestorPlace’s Brenden Rearick reported on Aug. 17 that Renaissance Technologies upped its stake in AMC Entertainment(NYSE:AMC) in the second quarter by 260%. The hedge fund now owns more than 1.8 million shares of AMC stock.\nJim Simons, the billionaire who runs the hedge fund, seems to be saying yes to moviegoers returning to the cinemas. I don’t think there’s any doubt that this will happen.\nAfter all, a day without the cinema is like a day without sunshine. But that’s not the same thing as AMC stock being an outright buy at $37.\nHere’s why.\nAMC Stock Weighting\nWhile my colleague brought to my attention Renaissance’s near tripling of its AMC holdings in the second quarter, for which I’m grateful, he didn’t mention what that change meant to the hedge fund’s overall portfolio.\nI’ll tell you.\nBased on the hedge fund’s 13F, it represents 0.13% of its $80.1 billion in net assets at the end of June. Furthermore, the value of its AMC stock at the end of June was $102.7 million. Today, those same 1.81 million shares are worth $67.9 million, or 34% less.\nSo, what’s more important if you’re Simons is the price you paid for your additional shares. As my colleague stated, it had 516,333 shares at the end of March, according to its 13F. Therefore, through April, May, and June, it added 1,296,012 shares.\nDuring those three months, AMC stock had a high and low share price of $61.34 (June) and $8.31 (April). Given Renaissance is in business to make money for its clients, I would suggest that it picked up most of the 1.2 million shares between $8 and $15.\nBased on a midpoint average price paid of $11.50, it’s sitting on a $47 million profit for the 1.2 million shares it picked up in the second quarter.\nHowever, as I said, AMC shares have lost 34% of their value in the seven weeks since the end of the second quarter. Further, the 516,333 shares it held in AMC at the end of March were acquired in the first three months of 2021.It held none at the end of December.\nAMC stock had a high and low of $20.36 and $1.91, respectively, in January, February and March. But, again, based on the fact it’s in business to make money for its clients, I would argue that it bought most of the 516,333 in January when the shares traded between $1.91 and $6. At the midpoint, let’s say it paid $3.96 a share.\nSo, my estimate suggests Renaissance paid $2.04 million for its AMC shares in the first quarter and $14.9 million for those in the second quarter. That means it was sitting on an overall return of 506% at the end of June. Today, that’s down to 301%.\nThe Odds Are Good That Simons Moved On\nAs I said, AMC stock only accounted for 0.13% of Renaissance’s total assets at the end of June. The hedge fund had 15 investments in the “A” section alone with a higher dollar amount than AMC. I won’t bother telling you about the “Bs” or further into the alphabet.\nSo, to characterize its top-up as a sign Renaissance is in some way super-stoked about AMC’s future potential isn’t accurate. It’s merely another opportunity by the hedge fund to use artificial intelligence to seek out quick profits. Nothing more.\nWith that in mind, I find it hard to believe that the hedge fund hasn’t sold at least a portion of its AMC shares this quarter. We’ll know for sure when it reports its Q3 13F in mid-November.\nNow, if Renaissance releases its 13F in mid-November and the holdings have doubled or tripled from 1.8 million, then I’d be super-stoked about the company’s future.\nIf you want to rely on Simons’ take on the markets, Renaissance’s largest holding at the end of Q2 was Novo Nordisk(NYSE:NVO) at $2.03 billion, or 2.53% of its portfolio.\nIf you want to buy based on the hedge fund’s largest increase during the second quarter – only including billion-dollar market caps – you should consider CSX(NASDAQ:CSX) or Nio(NYSE:NIO). It added 7.5 million and 5.3 million shares, respectively, during the second quarter.\nAs for AMC itself, I would hesitate to own its stock given its debt and the fact it’s done nothing to diversify its revenue stream beyond moviegoing.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":834770882,"gmtCreate":1629844856646,"gmtModify":1676530146330,"author":{"id":"3576260758860416","authorId":"3576260758860416","name":"andrew123","avatar":"https://community-static.tradeup.com/news/f2a1eaba26272212d42018e60e78b422","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":5,"crmLevelSwitch":0,"idStr":"3576260758860416","authorIdStr":"3576260758860416"},"htmlText":"R the millions david back in action?","listText":"R the millions david back in action?","text":"R the millions david back in action?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834770882","repostId":1118577467,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":834765134,"gmtCreate":1629841948528,"gmtModify":1676530145396,"author":{"id":"3575199303759784","authorId":"3575199303759784","name":"Andaroo","avatar":"https://static.tigerbbs.com/634c9b9f18158d4a4e497249bdbe8fd5","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3575199303759784","authorIdStr":"3575199303759784"},"htmlText":"Hello my fellow AMC apes. Hodl to the moon babyyyy","listText":"Hello my fellow AMC apes. Hodl to the moon babyyyy","text":"Hello my fellow AMC apes. Hodl to the moon babyyyy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834765134","repostId":1118577467,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":834488307,"gmtCreate":1629818904509,"gmtModify":1676530142344,"author":{"id":"3566422009404750","authorId":"3566422009404750","name":"RyantKing","avatar":"https://static.tigerbbs.com/21cb807f554e780c7da77b8008cbe145","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3566422009404750","authorIdStr":"3566422009404750"},"htmlText":"Been here since January, what a joke r u","listText":"Been here since January, what a joke r u","text":"Been here since January, what a joke r u","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834488307","repostId":1118577467,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":834419982,"gmtCreate":1629818063746,"gmtModify":1676530141974,"author":{"id":"3574212256342028","authorId":"3574212256342028","name":"tradingnoob","avatar":"https://static.tigerbbs.com/0db67f1fb32bf605337189e4ba02a158","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3574212256342028","authorIdStr":"3574212256342028"},"htmlText":"Yes. Follow Simons. Don't go against Renaissance","listText":"Yes. Follow Simons. Don't go against Renaissance","text":"Yes. Follow Simons. Don't go against Renaissance","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834419982","repostId":1118577467,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":834438437,"gmtCreate":1629817692329,"gmtModify":1676530141847,"author":{"id":"4088702020306150","authorId":"4088702020306150","name":"happydylan","avatar":"https://static.tigerbbs.com/e70475768665cc51a5ed3ac4734d2288","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4088702020306150","authorIdStr":"4088702020306150"},"htmlText":"Oh","listText":"Oh","text":"Oh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834438437","repostId":1118577467,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":834405581,"gmtCreate":1629816794543,"gmtModify":1676530141406,"author":{"id":"3581583857367862","authorId":"3581583857367862","name":"jieneng","avatar":"https://static.tigerbbs.com/b437f53df8f71a2aabdaa0d864be1e0f","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3581583857367862","authorIdStr":"3581583857367862"},"htmlText":"Like please","listText":"Like please","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/834405581","repostId":1118577467,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5637442,"gmtCreate":1629844873249,"gmtModify":1663232864644,"authorId":3576260758860416,"author":{"id":3576260758860416,"idStr":"3576260758860416","authorId":3576260758860416,"name":"andrew123","avatar":"https://community-static.tradeup.com/news/f2a1eaba26272212d42018e60e78b422","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":834405581,"type":1,"supId":0,"prevId":0,"content":"done.like back","text":"done.like back","html":"done.like back"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":50,"commentSize":7,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1118577467"}