Michael Burry's Chinese E-commerce Bets Bets on a Price Dropy
JD.com's ADR rose 2.2% on Friday. This movement followed an announcement by investor Michael Burry that he had purchased shares of the Chinese e-commerce company. In a post to paid Substack subscribers, Burry stated that Alibaba is a new position in his portfolio, representing slightly above 6%. JD.com is a significant addition to the portfolio and represents a slightly higher proportion than Alibaba. Burry wrote that the recent weakness in the company's performance provided a highly attractive entry point.
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