Michael Burry Stays Skeptical Of Alibaba After $10.2B AI Share Sale: ‘Issuing Shares Is Now Its New Paradigm’
Burry’s comments come after Alibaba announced its June-quarter profit plunged 76% and capital expenditure jumped 75% on AI infrastructure. Michael Burry said that he won’t rebuy Alibaba stock, saying it would have to drop 50% from here before he looks at it again. Alibaba is selling shares to raise $10.2 billion, and all of the … Read more