5 Best Stocks to Buy for 2021 According to Billionaire Stanley Druckenmiller

4. Alibaba Group Holding (NYSE: BABA)

Shares of the largest Chinese e-commerce giant Alibaba underperformed this year compared to closest competitors amid Donald Trump’s strict policies against Chinese firms.

Meanwhile, Druckenmiller’s family office saw it as a buying opportunity as the firm has significantly added to its existing position during the third quarter. It has raised BABA stake by 25% to 0.54 million shares valued at $160 million. It is the fourth largest stock holding of Druckenmiller’s portfolio, accounting for 4.66% of the overall portfolio.

Alibaba share price soared only 20% so far in fiscal 2020 despite robust growth in revenues and active users. Its September quarter revenue of $22.8 billion jumped 30% from the past year period.

“We remain focused on our three long-term growth engines – domestic consumption, cloud computing, and data intelligence, and globalization – to effectively capture opportunities from the ongoing changes in consumer demand and acceleration of digitalization of businesses across our digital economy,” said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group.