GameStop CEO Ryan Cohen hikes his personal stake in Alibaba to $1 billion, WSJ says
Published On Feb 20, 2025, 4:10 PM
GameStop CEO Ryan Cohen has significantly increased his investment in Alibaba, now holding around 7 million shares valued at approximately $1 billion. This move signals his confidence in China's long-term economic recovery after Alibaba reported a sharp rise in profits driven by its Cloud Intelligence unit and e-commerce growth. Following the announcement, Alibaba's share price surged by over 8%. Cohen previously suggested that Alibaba should engage in buybacks, indicating he sees the stock as undervalued. The backdrop for Cohen's investment also includes greater stability from China's leadership, as President Xi Jinping recently called for private businesses to regain confidence.
Stock Forecasts
BABA
Positive
Ryan Cohen's substantial investment in Alibaba, coupled with the company's recent profit increases and positive market response, points toward a favorable outlook for Alibaba's stock in the near term. Additionally, Cohen's influential role and history of successful investments suggest potential continued growth for Alibaba if the broader Chinese economy improves.
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