Michael Burry is Selling These 5 Stocks

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1. JD.Com Inc. (NASDAQ:JD)

Michael Burry’s Stake in Q1: $10,972,500

Michael Burry bailed out on Chinese e-commerce company JD.Com Inc. (NASDAQ:JD) during the second quarter, dumping all 250,000 shares of the company he had owned during the first quarter. JD.Com Inc. (NASDAQ:JD) shares have lost about 36% year to date through August 15.

As of the end of the first quarter of 2023, 59 hedge funds out of the 943 funds reported owning stakes in JD.Com Inc. (NASDAQ:JD). The biggest stakeholder of JD.Com Inc. (NASDAQ:JD) during this period was Chase Coleman and Feroz Dewan’s Tiger Global Management LLC which owns a $1 billion stake in the company.

Baron Emerging Markets Fund made the following comment about JD.com, Inc. (NASDAQ:JD) in its first quarter 2023 investor letter:

JD.com, Inc. (NASDAQ:JD) is one of the three largest e-commerce platforms in China. Shares declined after the company reported a slowdown in fourth quarter sales and commented that deliberate culling of unprofitable SKUs would also be a drag on headline revenue growth in the first half of 2023. We believe the slowdown was driven by the peak in Chinese COVID lockdowns, which have since ended, and the elimination or reduction of unprofitable business is better for long-term margins and returns on capital. We remain investors.”

You can also take a peek at 20 Best Burger Chains in the US and 10 Oversold Blue Chip Stocks To Buy.

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