Top 5 New Stocks Billionaire Ken Fisher Just Bought

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Below we present the list of Top 5 New Stocks Billionaire Ken Fisher Just Bought. For the full list and background on Ken Fisher, please see Top 10 New Stocks Billionaire Ken Fisher Just Bought.

  1. The Cheesecake Factory Incorporated (NASDAQ:CAKE)

Fisher Asset Management couldn’t resist taking a bite out of The Cheesecake Factory Incorporated (NASDAQ:CAKE) during Q3, buying 542,709 shares totaling 1.19% of the outstanding shares of CAKE. Bullishness for the stock hit a new high at the end of 2019 among the hedge funds tracked by Insider Monkey, but ownership of it declined by 19% during Q1 as the pandemic caused a mass reorganization of investment portfolios.

The Cheesecake Factory has weathered the Covid-19 storm as well as could be expected, expanding its pick-up and delivery options, which captured close to 40% of its sales mix. The company saw strong demand for indoor dining in Q3 as well, as 20 of its 187 locations that are currently serving indoor diners posted positive comparable sales year-over-year despite being limited to about 50% dining capacity.

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