Baillie Gifford nearly cuts Alibaba position, but bought 7.98 million shares of NIO
Alibaba's early investor Baillie Gifford $Baillie Gifford Holdings(BK2557.US$ , a British long-term fund, which was sold out Alibaba's shares in the second quarter, and its shareholding decreased from 1.75 million shares to 13 shares.
According to the application documents, Baillie Gifford also reduced its holdings of JD $JD.com(JD.US$ , Baidu $Baidu(BIDU.US$ , Tencent music $Tencent Music(TME.US$ and NetEase $NetEase(NTES.US$ .
According to the application documents, Baillie Gifford also reduced its holdings of JD $JD.com(JD.US$ , Baidu $Baidu(BIDU.US$ , Tencent music $Tencent Music(TME.US$ and NetEase $NetEase(NTES.US$ .
However, the company did not sell all of the Chinese stocks. The investment firm bought shares of Chinese electric vehicle startup NIO $NIO Inc(NIO.US$ in the second quarter. At the end of the quarter, its NIO holding stood at about 96.73 million, up from 88.75 million shares at the end of the first quarter.
The worsening Sino-U.S. ties, potential U.S. delisting risk, and the domestic regulatory backlash all have led to a massive sell-off in the shares. This has rendered both institutional and retail investors cautious toward these stocks.
$Alibaba(BABA.US$ $BABA-SW(09988.HK$ $NIO-SW(09866.HK$ $TENCENT(00700.HK$ $NTES-S(09999.HK$ $BIDU-SW(09888.HK$ $JD-SW(09618.HK$ $China Concept Stocks(BK2517.US$ $Hang Seng TECH Index(800700.HK$
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Btan : Not smart of them. Buy NIO which is falling harder. Too many EV players
whqqq Btan: Indeed. I feel that EV stocks have great risks and can not guarantee a certain profit for a long time.