Should You Follow Christian Leone Into These 5 Tech and Consumer Stocks?

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

Luxor Capital Group’s Equity stake: $381.96 Million
Year-to-date gain: 71%
Number of Hedge Fund Holders: 286

Amazon.com, Inc. (NASDAQ:AMZN) is an e-commerce company offering a platform that helps merchants connect with customers worldwide. Luxor Capital Group increased its exposure in Amazon.com, Inc. (NASDAQ:AMZN) by 8% in Q3 2023 through call options valued at about $381.96 million.

Here is what Claret Asset Management said about about Amazon.com, Inc. (NASDAQ:AMZN) in its Q3 2023 investor letter:

“We have mentioned in the last letter that the “magnificent seven”, including Amazon.com, Inc.,dominated the performance of the S&P 500. We might have left you with the feeling that we are bearish because we don’t find the Magnificent 7 attractive. Let us make it clear: we are just not so pessimistic as to believe there are only 7 growth opportunities in the entire global equity market. In fact, we are optimists and think opportunity is abundant. Just not in everyone’s current 7 favorite stocks.”

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