BREAKING STORY

A specific event in the last few hours that changes something — an earnings surprise, a regulatory action, a policy decision, a deal.

Alibaba Shares Slide as Burry Exits Stake and $10.2 Billion Share Sale Lands

Michael Burry's Scion Asset Management dropped Alibaba for JD.com just as Alibaba priced a massive stock placement to fund AI spending.

Alibaba shares fell in Hong Kong after Michael Burry disclosed he had exited his Alibaba stake in favor of JD.com, compounding pressure from a $10.2 billion share placement the company launched to fund AI investment.

BREAKING STORYBEARISH