Komfie Manalo, Opalesque Asia: Some of the biggest U.S. hedge funds are buying shares of Chinese e-commerce giant Alibaba Group making it the most widely bought stocks in the U.S. market, reports said.
Since its $25bn IPO debut in September this year, Alibaba’s stocks jumped to about $115 per share from $68 prior to the IPO.
Among the buyers of Alibaba were George Soros’ Soros Fund Management, Barry Rosensteins’ Jana Partners, Louis Bacon's Moore Capital Management, John Paulson's Paulson & Co, David Tepper's Appaloosa Management, Dan Loeb's Third Point, Viking Global Investors LP, Leon Cooperman's Omega Advisors, Janus Capital Management, and Tiger Management.
In an interview with Reuters last October, Mark Yusko, head of the $4bn Morgan Creek Asset Management, estimated that Alibaba’s shares could more than double in the next three years. That could vault Alibaba past Apple Inc's current valuation, which ranks it as the world's biggest publicly traded company.
Days before Alibaba’s IPO, some of the biggest hedge funds have already shown interest in the e-commerce giant. Loeb, Tepper and Dan Benton of Andor Capital Management were amongst the roughly 800 people who attended Alibaba's first road show presentation at the Waldorf Astoria hotel...................... To view our full article Click here
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