The world’s largest hedge fund led by billionaire Ray Dalio has parted ways with its stake in Tesla (TSLA) and placed new bets on meme-stocks AMC (AMC) and GameStop (GME) during the first quarter, a filing with the Securities and Exchange Commission showed. The firm also took new positions in Warren Buffet’s Berkshire Hathaway (BRK.B) and Airbnb (ABNB).
Dumping Tesla is a measure of the fact Musk has taken on the status quo, and now will run into headwinds his company previously did not face.
Taking up Gamestop and AMC is more interesting as it lends credence to the possibility there is more damage to be done to short sellers from those stocks. Guys like Dalio will tend to have former CIA and other intelligence officers on the payroll who will do what is required to know things others do not, making the move that much more interesting.
