Billionaire Ray Dalio is Dumping These 5 Stocks

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1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 269

Number of Shares Owned by Ray Dalio’s Fund in Q2: 149.25K

Amazon.com, Inc. (NASDAQ:AMZN) is an American multinational technology company that engages in the retail sale of consumer products and subscriptions in North America and internationally.

On November 18, Erste Group analyst Hans Engel downgraded Amazon.com, Inc. (NASDAQ:AMZN) to Hold from Buy. According to Engel, the “outlook for earnings development has deteriorated in recent weeks,” and the analyst states that the multinational giant recently reported a significant weakening of profitability in the retail business.

At the end of the third quarter of 2022, 269 hedge funds in the database of Insider Monkey held stakes worth $34.6 billion in Amazon.com, Inc. (NASDAQ:AMZN), compared to 252 in the preceding quarter worth $30 billion.

Diamond Hill Capital Management commented on Amazon.com, Inc. (NASDAQ:AMZN) in a Q2 2022 investor letter,

Amazon.com, Inc. (NASDAQ:AMZN)’s shares underperformed as valuations of fast-growing companies continued to compress in Q2. Amazon’s growth investments over the past two years have pressured earnings as consumer demand has been weaker than anticipated. However, we believe the company will be able to grow into its infrastructure investments over time. These investments have obscured the magnitude of sustainable free cash flow as well as the attractive valuation of the business relative to peers.

Follow Amazon Com Inc (NASDAQ:AMZN)

You can also take a look at Warren Buffett’s Top 10 Dividend Stock Picks and 15 Largest Hotel Chains in the US in 2022.

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