Michael Burry is Selling These 5 Stocks

2. Alibaba Group Holding Limited (NYSE:BABA)

Michael Burry’s Stake in Q1: $10,218,000

Alibaba Group Holding Limited (NYSE:BABA) ranks 2nd in our list of the stocks sold by Michael Burry during the second quarter, as the Big Short dumped all 100,000 BABA shares he’d owned during the first quarter of 2023. On the other hand, latest data shows that Saudi Arabia’s sovereign wealth fund, The Public Investment Fund (PIF), upped its stake in Alibaba Group Holding Limited (NYSE:BABA) to 1.04 million shares.

Alibaba Group Holding Limited (NYSE:BABA) shares are currently in the limelight after the company posted solid Q1 results after which the stock received upgrades and praise from several analysts firm. Alibaba Group Holding Limited (NYSE:BABA)’s adjusted EPADS in the quarter came in at $2.40 beating estimates by $0.39. Revenue in the quarter jumped 14% year over year to $32.29 billion, surpassing estimates by $1.08 billion.

As of the end of the first quarter of 2023, 128 hedge funds in Insider Monkey’s database of funds reported owning stakes in Alibaba Group Holding Limited (NYSE:BABA).