Top 5 Stocks Billionaire Daniel Loeb Just Bought

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Below we present the list of Top 5 Stocks Billionaire Daniel Loeb Just Bought. For more background on Daniel Loeb and his hedge fund Third Point, as well as some of his other top new stock picks, don’t miss Top 10 Stocks Billionaire Daniel Loeb Just Bought.

  1. Expedia Group Inc (NASDAQ:EXPE)

Third Point bought over 1.62 million shares of Expedia Group Inc (NASDAQ:EXPE) during Q3, hoping to capitalize on the travel platform’s depressed stock price as a potential vaccine nears and global travel rebounds. That move paid off earlier this month when Pfizer Inc. (NYSE:PFE)’s announcement of just such a promising vaccine sent Expedia shares soaring by 20%.

Expedia has been devastated by the pandemic, as its 2020 revenue through September plummeted by 54% year-over-year to $4.23 billion, while gross bookings tumbled by 65%. The question now might be whether or not Expedia is overvalued again after its recent surge, which has pushed its stock above pre-Covid levels despite the travel industry still being decimated and Expedia have nearly doubled its debt load to over $8.17 billion this year.

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