One week after President Trump's sons Eric Trump and Donald Trump Jr. rang the opening bell at Nasdaq to announce a $1.5 billion deal involving biotech-to-cryptocurrency payment company Alt5 Sigma Corp. and Trump-backed cryptocurrency firm World Liberty Financial, two top hedge funds have taken positions in the company.
Point72 Asset Management, owned by billionaire Steve Cohen, disclosed on Monday that it has acquired a 4% stake in Alt5 Sigma. The shares are held by a fund under Point72 rather than by Cohen personally. Alt5 Sigma stock plunged 10% on Tuesday to $5.48, valuing Point72's holdings at $26.7 million.
Additionally, another filing released on Monday showed that ExodusPoint Capital Management's main fund purchased approximately 5.9 million shares of Alt5 stock, representing 4.75% of the company. The document revealed that the fund held 6.2 million shares on August 11, accounting for over 5% of outstanding shares, but reduced its position over the following week. ExodusPoint's stake is valued at $32.1 million.
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