Michael Burry increased his investment in JD.com, elevating the stock to a top three position. The Big Short investor purchased additional shares at a price of $27.58.
Burry expects Hong Kong-listed Chinese stocks to benefit from a pullback in the AI and memory sectors in South Korea and Japan. This move follows a modest rebound for Chinese tech stocks in July after a prolonged decline.
JD.com shares fell 0.3% in early premarket trading following the announcement. Retail investor sentiment on the Stocktwits platform remains bullish.