Michael Burry Is Selling These 7 Stocks in 2024

2. Alphabet Inc Class A (NASDAQ:GOOGL)

Number of Hedge Fund Investors: 214

Selling Alphabet is another surprising move of Burry during the March quarter this year, as the Big Short investor dumped 35,000 shares of Alphabet Inc Class A (NASDAQ:GOOGL) he’d owned heading into 2024.

Alphabet Inc Class A (NASDAQ:GOOGL) shares have gained about 27% so far this year. The stock is trending following the I/O event where Alphabet Inc Class A (NASDAQ:GOOGL) revealed several AI features.

Third Point Management stated the following regarding Alphabet Inc. (NASDAQ:GOOG) in its first quarter 2024 investor letter:

“During Q1, the funds made a substantial investment in Alphabet Inc. (NASDAQ:GOOG) as the market worried about the impact of LLMs, personal assistants, and answer engines such as Perplexity AI on Google Search. We have owned Alphabet in the past and have long admired its exceptional business model and its proven ability to maintain a leading position across an array of preeminent products such as Search, Gmail, Android, GCP, and YouTube.

The concern that in an AI world, changes in the way consumers will eventually interact with their personal devices and with the internet can result in risks to Alphabet’s core business Search is not entirely unfounded. Alphabet, however, has both a substantial distribution and technology advantage over competitors and is positioned to use its AI capabilities to unify, enhance, and better monetize the entire suite of its products…” (Click here to read the full text)