Ron Burgundy Posted May 15, 2015 Share Posted May 15, 2015 By Ashley Lau NEW YORK (Reuters) - Hedge fund manager Daniel Loeb's Third Point LLC exited its position in Alibaba Group Holding Ltd at the end of the first quarter, the same period during which the Chinese e-commerce company posted a surprise revenue miss that sent its shares plunging. Third Point's decision to slash its 10 million-share stake in Alibaba comes after the hedge fund had been steadily building its position in the company. Third Point, along with John Paulson's Paulson & Co, had been among the few big hedge funds to increase their stakes in Alibaba at the end of last year, even as others cut or dissolved their positions. View the full article Quote Link to comment Share on other sites More sharing options...
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