As he continues to reap profits from his stock bets, Michael Burry of ‘The Big Short’ and his Scion Asset Management have become examples to follow for many investors around the world, and there are two stocks in particular that he owns that could offer a massive opportunity.
Indeed, the investor famous for his bet against the housing market, which has even led to the creation of a best-selling book and a 2015 film adaptation, seems to be confident enough in the potential of two specific stocks that he has deemed worthy of taking a long position on.
#1 Alibaba (NYSE: BABA)
Since the 13-f filing covering the third-quarter 2023 holdings in Burry’s portfolio, in which his Alibaba (NYSE: BABA) stock bet took center stage, the price of BABA shares has not made any massive advances, but its performance in 2024 and recent trending status are showing promise.
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At the moment, Alibaba shares are trading at the price of $78.04, which suggests an increase of 0.18% on the day, a 0.95% drop across the past week, and a 3.70% decline in the last month, while accumulating an advance of 2.41% since the year’s turn, as per data on June 13.
#2 JD.Com (NASDAQ: JD)
Another e-commerce giant hailing from China that has caught Burry’s attention is JD.Com (NASDAQ: JD), and he purchased 125,000 shares in the same trimester as when he bought Alibaba stock, taking the chance to ‘buy the dip’ on this stock at the time, resulting in a profit for the ‘Big Short.’
Meanwhile, the price of JD.Com shares at press time stood at $29.56, indicating a 0.51% advance in the last 24 hours, albeit losing 1.73% over the previous seven days and declining 11.52% on its monthly chart. However, JD stock has managed to advance 5.57% in 2024 so far.
Conclusion
All things considered, the above long positions taken by Michael Burry certainly reflect his belief in their future performance. However, it is important to keep in mind that investors like Burry are well aware of the risks in the stock market and are taking them on at their own discretion.
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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
