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Michael Burry exits Alibaba stake
Michael Burry’s Scion Asset Management exited its stakes in Alibaba Group Holding Ltd. and JD.com Inc. in the second quarter, ditching the stocks just months after doubling down on them.
That’s a stark turnaround, considering the two Chinese tech giants comprised 20% of the firm’s portfolio and were its top two equity holdings at the end of March.
[Bloomberg]
Michael Burry’s Scion Asset Management exited its stakes in Alibaba Group Holding Ltd. and JD.com Inc. in the second quarter, ditching the stocks just months after doubling down on them.
That’s a stark turnaround, considering the two Chinese tech giants comprised 20% of the firm’s portfolio and were its top two equity holdings at the end of March.
[Bloomberg]
