13F Shows Appaloosa LP Increased Stake in Alibaba Group Hldg Ltd by 6.9M Shares, or +159%, to 11.25M Shares, Valued at $814.05M
Portfolio Pulse from Benzinga Newsdesk
Appaloosa LP has significantly increased its stake in Alibaba Group Holding Ltd by 6.9 million shares, representing a 159% increase, bringing its total holdings to 11.25 million shares valued at $814.05 million.
May 15, 2024 | 8:25 pm
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Appaloosa LP has increased its stake in Alibaba Group Holding Ltd by 159%, adding 6.9 million shares. This significant increase in holdings could indicate strong confidence in Alibaba's future performance.
The substantial increase in shares held by Appaloosa LP suggests a strong belief in Alibaba's potential for growth. This could positively influence investor sentiment and drive the stock price up in the short term.
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