Subscribe Now

* You will receive the latest news and updates on your favorite celebrities!

Trending News

The Mormon Church’s Secretive $100 billion Fund Scored a 900% gain on GameStop and Boosted its Tesla Bet by 39%
Uncategorized

The Mormon Church’s Secretive $100 billion Fund Scored a 900% gain on GameStop and Boosted its Tesla Bet by 39% 

Mormon Church has been a surprising winner of the short squeeze GameStop, which saved 900% of the stock of the Meme last quarter, according to the regulatory documents.

In the fourth quarter of 2020, Ensign Peak Advisors – the Later-Day Saints Church of Christ’s secret $100 billion investment arm – picked up 46 000 GameStop shares. The interest ranged over the first three months of this year from less than $900,000 to $8.7 million due to GameStop’s stock price, which in January became stratospheric and remained high since then.

The increase from below $19 to $190 last quarter in GameStop’s inventory also came from Ensign’s 1,452nd most precious holding to number 455.

The church fund also boosted its Tesla stake by 39% after growing it 3,500% last year.

The company has also taken part in the Tesla craze, growing by approximately 3,500% of its split-adjusted share in the electric car business of Elon Musk to 467,000 shares over the last year. It strengthened the position by 39 percent again and last quarter it managed to reach almost 650,000 shares.

Ensign Peak Advisors’ stake surged in value from below $900,000 to $8.7 million.

At the end of March, the share of Tesla, which made Ensign the 15th largest holding, valued 433 million dollars. Three months earlier, it was 22nd on the list.

Ensign cuts its four major holdings last quarter but still has $2 billion Apple and Microsoft stake, $1 billion-plus Amazon and Alphabet positions. In particular, the company cut its share in Warren Buffett’s Berkshire Hathaway by 21% from its 14th most precious holding to its 22nd holding.

Low Budget Marketing Tips For Startups

Related posts

Leave a Reply

Required fields are marked *