Alibaba founder Jack Ma reemerged in public view in China, praising the company's reorganization and changes over the past year, signaling a potential softening of the Chinese government's stance toward tech giants. The reemergence comes after a historic overhaul and management changes at Alibaba, which has faced regulatory challenges and increased competition. Ma's public statement aims to boost morale among employees and emphasizes the need for future-oriented transformations, particularly in the e-commerce landscape.
Michael Burry, known for his role in "The Big Short," has increased his bets on Chinese tech giants Alibaba and JD.com despite a deepening stock rout. Scion Asset Management's recent 13F filing revealed a 50% increase in their stake in Alibaba and a 75,000 share increase in JD.com. However, these wagers have struggled as Alibaba is down 5% year-to-date and JD.com has tumbled almost 20% amid global money managers unwinding positions in Chinese stocks due to an ongoing property crisis and slowing growth. Despite this, Burry's firm has dropped all its bearish positions and instead invested in industries including health care, financials, and tech.
