Shares of Barnes & Noble spiked more than 80% in pre-market trading Monday following news that Microsoft invested $300 million in a joint venture.While a bunch hedge funds are making a fortune this morning thanks to their stakes in the book seller, no one is killing it as much as event-driven hedge fund JANA Partners.
On April 11th, JANA Partners disclosed in a Form 3 regulatory filing that it had bought 6.95 million shares, or an 11.56% stake in Barnes & Noble, according to Bloomberg data.
The stock is up about $10 a share, so that’s ~$69.5 million Barry Rosenstein’s fund made before the opening bell.
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