Billionaire Louis Bacon’s Top 5 Stock Picks

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1. Alibaba Group Holding Limited (NYSE: BABA)

Louis Bacon’s hedge fund has raised its stake by 54% in Alibaba Group Holding Limited (NYSE: BABA) during the September quarter to 6.22% of the overall portfolio. Shares of Alibaba performed well during the second and third quarter of 2020, but regulatory pressure weighed on its stock price in the last three months.

Alger Spectra Fund has also highlighted strong confidence in the Chinese e-commerce giant in an investor’s letter. Here is what Alger Spectra Fund stated:

“Alibaba is the dominant e-commerce platform in the Chinese economy, where e-commerce remains underpenetrated and fast-growing. It is also a leading player in China’s cloud computing, big data analytics. digital media and entertainment markets. The performance of shares of Alibaba reflects investor excitement about its ability to exploit the large addressable market opportunities in e-commerce and cloud computing because of state-enacted barriers blocking foreign competitive entry.

Additionally, the accelerating pace of consumer spending in China is one of the world’s greatest growth stories and Alibaba is a prime beneficiary.

Please also see Billionaire Stephen Mandel’s Lone Pine Is Embracing The Tech Revolution and 15 Best Undervalued Stocks to Buy Now

Disclosure: None.

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