Hedge fund manager Chase Coleman made a multi-billion dollar bet on newly public video game company in the first quarter of 2021. Here are his other latest moves.
According to SEC filings released on Monday, Tiger Global Management owns a $2.6 billion stake in Roblox, which is now the hedge fund's third largest holding. The kids gaming app that surged in popularity during the pandemic went public on the New York Stock Exchange in March.
Roblox is up 66% since its public debut, but down more than 10% from its high. Last week, Roblox reported daily active users rose to 42.1 million in the first quarter, up 79% from last year. Users spent 9.7 billion hours on the platform, up 98% year over year from March 2021.