On February 21st, Game Station CEO Ryan Cohen increased his stake in Alibaba to $1 billion. Cohen is known as the king of meme stocks because he helped trigger an explosive rebound in gaming stations and other businesses during the pandemic. According to insiders, in recent months, his personal stake in Alibaba has increased to about $1 billion, or approximately 7 million shares. The large bet on Alibaba reflects Cohen’s optimism about China’s long-term economic growth prospects. (Wall Street Journal)
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