The Big Short’s Michael Burry boosts Alibaba

The big… long: Michael Burry, the money manager made famous in The Big Short, is going long on Alibaba. The stock has become Burry’s 2nd biggest holding, making up 10% of his Scion Asset Management portfolio (he’s doubled his holdings and now owns 100k shares worth $10 million!). Company shares jumped 6% after the news broke.?

• A soft spot for ecommerce: It wasn’t Burry’s only market move into a Chinese ecommerce stock. He also tripled his holding in JD.com, taking his total shares up to 250k. This sits as his number one holding, worth a staggering $11 million.
• A true contrarian: Alibaba and JD.com are both in the red year-to-date, but The Big Short fans will know Burry is quite the maverick, and loves to prove people wrong. So far, he really is going against the grain as Alibaba shares fell 4% yesterday after it missed its revenue targets.

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*Figures correct as of May 18th 2023.

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