<\/p>\n
Billionaire investor Ken Griffin is placing a major bet on a company that\u2019s far outperformed expectations this year.<\/p>\n
According to a filing<\/a> with the U.S. Securities and Exchange Commission (SEC), Griffin\u2019s hedge fund Citadel has acquired 3,824,329 shares of NioCorp Developments Ltd (NB), a company advancing critical minerals development in the United States.<\/p>\n NioCorp\u2019s flagship project in Nebraska aims to produce rare earth minerals like niobium, scandium and titanium.<\/p>\n Citadel\u2019s holdings of NB represent 5.4% of its total portfolio, and 5.2% of the total outstanding shares.<\/p>\n NB, with a market cap of just $229 million, is trading at $3.16 after opening the year at $1.41 in January \u2013 a gain of 124% so far.<\/p>\n Citadel\u2019s positioning in the company appears to underscore a focus on the energy sector, given its recent win<\/a> on Chevron\u2019s $53 billion takeover of competitor Hess Corporation.<\/p>\n Citadel Advisors, Adage Capital and HBK Investments were part of a group of investors betting on the acquisition as part of a merger arbitrage strategy, which\u00a0involves betting on the outcome of a merger or acquisition, typically by taking long and\/or short positions in the stocks of the companies involved.<\/p>\n Citadel and HBK each had the equivalent of $1 billion in shares, according to the firms\u2019 latest filings, says Bloomberg.<\/p>\n Follow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>   Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Billionaire investor Ken Griffin is placing a major bet on a company that\u2019s far outperformed expectations this year. According to a filing with the U.S. Securities and Exchange Commission (SEC), Griffin\u2019s hedge fund Citadel has acquired 3,824,329 shares of NioCorp Developments Ltd (NB), a company advancing critical minerals development in the United States. NioCorp\u2019s flagship […]<\/p>\n","protected":false},"author":2,"featured_media":401385,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-401384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/401384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=401384"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/401384\/revisions"}],"predecessor-version":[{"id":401386,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/401384\/revisions\/401386"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/401385"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=401384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=401384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=401384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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