Michael Burry is Selling These 5 Stocks

3. Zoom Video Communications, Inc. (NASDAQ:ZM)

Michael Burry’s Stake in Q1: $7,384,000

During the second quarter, Michael Burry sold all 100,000 shares of Zoom Video Communications, Inc. (NASDAQ:ZM) he’d owned during the first quarter of 2023. Once a thriving stock, Zoom Video Communications, Inc. (NASDAQ:ZM) went out of favor in many circles when the coronavirus crisis started to abate especially as companies call their employees back to the office. However, Zoom Video Communications, Inc. (NASDAQ:ZM)’s Q1 results came in stronger than expected as it focuses on Enterprise growth.

As of the end of the first quarter of 2023, 40 hedge funds out of the 943 hedge funds tracked by Insider Monkey reported owning stakes in Zoom Video Communications, Inc. (NASDAQ:ZM), up from 31 funds in the previous quarter. This shows Zoom Video Communications, Inc. (NASDAQ:ZM) shares saw a jump in hedge fund sentiment during the first quarter despite economic headwinds and recession fears that didn’t bode well for growth companies.