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SillyOldBear
2022-04-18

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Charlie Munger’s Daily Journal Slashed Its Stake in Alibaba Stock

@historyiong：

By Ed Lin $Alibaba(09988)$ Alibaba stock hasn’t fared well since Daily Journaldisclosed an Alibaba stakea year ago. As of March 31, 2021, its 165,320 Alibaba ADRs were valued at $37,483,000, or $226.73 each. That April, Alibaba ADRs rose after news that it had agreed to pay a hefty fine raised expectations that it hadput regulatory pressures behind it. Soon after, though, the ADRs went ona long slideas Alibaba contended with a slowing Chinese economy, supply-chain woes, and more uncertainty from regulators. Daily Journalcontinued buying moreAlibaba ADRs in the third and fourth quarters of 2021. At the end of the first quarter of 2022, Alibaba ADRs were at $108.80—meaning the original 165,320 ADRs Daily Journal had purchased, if it still owned them, had dropped more than half in value to a bit less than $18 million in one year.

Charlie Munger’s Daily Journal Slashed Its Stake in Alibaba Stock

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As of March 31, 2021, its 165,320 Alibaba ADRs were valued at $37,483,000, or $226.73 each.</p> <p>That April, Alibaba ADRs rose after news that it had agreed to pay a hefty fine raised expectations that it hadput regulatory pressures behind it. Soon after, though, the ADRs went ona long slideas Alibaba contended with a slowing Chinese economy, supply-chain woes, and more uncertainty from regulators.</p> <p>Daily Journalcontinued buying moreAlibaba ADRs in the third and fourth quarters of 2021. At the end of the first quarter of 2022, Alibaba ADRs were at $108.80—meaning the original 165,320 ADRs Daily Journal had purchased, if it still owned them, had dropped more than half in value to a bit less than $18 million in one year.</p></body></html>","text":"By Ed Lin $Alibaba(09988)$ Alibaba stock hasn’t fared well since Daily Journaldisclosed an Alibaba stakea year ago. As of March 31, 2021, its 165,320 Alibaba ADRs were valued at $37,483,000, or $226.73 each. 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