Gamestop Executive Director Ryan Cohen increases his personal share in Alibaba to $ 1 billion, says WSJ

Gamestop EXECUTIVE Director and investor Ryan Cohen increased his personal share in Chinese gigantic gigantic alibaba at approximately $ 7 million worth about one billion dollars, Wall Street Journal reported on Thursday.

Citing people who are familiar with the issue, the magazine said that a significant share in Alibaba Bikovo bet on Chinese economic growth was a significant share.

Cohen was not immediately available when CNBC reached for comment.

The news followed after Chinese Titan published a A sharp increase in profit In December, a quarter in the midst of power in its intelligence coast unit and the e-trade segment. Alibaba shares rose 8.1%on Thursday.

In the investor, in 2023, he called on Alibaba to increase the purchase because he believed that the shares were seriously underestimated, the magazine said.

Alibabin open founder Jack Mawho kept to a large extent beyond the public since 2020, was among the entrepreneurs who attended a rare closed door meeting led by Chinese President XI Jinping On Monday, during which Beijing leader invited private companies to “show their talents” and strengthen confidence in the “new era” for their activity.

Cohen became the executive director of Meme Stock Gamestop after his involvement in the video game store partially launched a historic trading mania at Wall Street 2021. ChewingHe has been a turnaround in a brick and mortar seller in recent years.

Under Cohen’s guidance, Gamestop focused on reducing costs and simplification of operations to ensure that the job is profitable even though it does not grow. Earlier this month, CNBC reported that Gamestop was Given the investment in Bitcoin and other crypto currency.

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