Michael Burry’s Scion doubles down on Chinese tech amid market rebound
In a bold move reminiscent of his iconic bets, Michael Burry's Scion Asset Management doubled down on JD.com Inc and Alibaba Group Holding Ltd in Q1 as Chinese equities hit rock bottom. With an 80% boost in JD.com shares and an additional 50,000 shares of Alibaba, Burry's return to Chinese tech investments seems prescient. As the market rebounds on policy interventions and earnings upticks, Burry's calculated risks may yield substantial gains once again.
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By Charlotte Yang
Michael Burry's investment firm doubled down on its bets on JD.com Inc and Alibaba Group Holding Ltd. in the first quarter as Chinese equities bottomed out.Â
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