Cohen Turns Sights on Alibaba. This Time Meme-Stock Traders Might Not Follow.
Investor Ryan Cohen, who has found fame with activist campaigns at meme stocks such as GameStop and Bed Bath & Beyond is now targeting Chinese e-commerce giant Alibaba
The billionaire co-founder of Chewy and chairman of GameStop (ticker: GME) has built up a stake worth hundreds of millions of dollars in Alibaba (BABA) in the second half of last year and is pushing for the company to increase its stock buybacks, The Wall Street Journal reported on Tuesday. A person familiar with the matter has confirmed the Journal’s report to Barron’s.