GameStop CEO Raises Alibaba Bet to $1 Billion. Why Earnings Pleased Analysts. - Barron's
1. GameStop CEO Ryan Cohen increased his stake in Alibaba to 7M shares. His move signals high conviction in Alibaba's rebound. 2. Alibaba's ADRs surged 60% this year, far outpacing the S&P 500's 4% gain. This rally supports strong earnings outlook. 3. Robust quarterly earnings exceeded estimates in online retail and AI-driven cloud services. Analysts have raised price targets by over 40%. 4. Stimulus measures from Beijing and aggressive AI investments bolstered investor confidence. Retail investors and meme-stock dems are showing interest.