US media: Game Station CEO increases Alibaba stake to $1 billion
2025-02-20 20:47:14
On February 21, according to the Wall Street Journal, Ryan Cohen, CEO of GME. N, increased his stake in Alibaba (BABA. N) to $1 billion. Cohen is known as the king of meme stocks because he helped spark an explosive rally in GME. N and other businesses during the epidemic. In recent months, his personal stake in Alibaba has increased to about $1 billion, or about 7 million shares, according to people familiar with the matter. The big bet on Alibaba reflects Cohen's optimism about China's long-term economic growth prospects. Cohen privately urged Alibaba to accelerate its share buyback program in 2023, saying Alibaba's stock was seriously undervalued. He also privately discussed wanting a long-term relationship with Alibaba, and Mr. Cohen and Alibaba have also recently held discussions, people familiar with the discussions said.
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