Several prominent investors including hedge fund Baupost Group and mutual fund giant Fidelity bought or increased their holdings in retailer Amazon.com during the second quarter as its stock surge helped fuel Wall Street's rally.
An Amazon Prime truck is pictured as it crosses the George Washington Bridge on Interstate Route 95 during Amazon's two-day "Prime Early Access Sale" shopping event for Amazon members in New York City, New York, U.S., October 11, 2022. REUTERS/Mike Segar/File Photo
Amazon's stock price boomed during the pandemic when homebound shoppers relied on the retailer for toilet paper, groceries and much more. Then the share price tumbled 50% last year as many technology companies announced cuts and their stock prices skidded lower. Friday's filings are made by money managers to detail how much they owned in U.S. companies at the end of the second quarter. They are made public with a 45 day lag and while they are backward looking many investors scour them for trends.
Investor GQG Partners LLC reported making a new investment and owning 15,476,122 shares at the end of the quarter.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon dropping several of its in-house brands: WSJAmazon.com Inc. is reportedly getting rid of most of its clothing brands as a way of shoring up its profit and avoiding antitrust scrutiny, according to a...
Read more »
Fund sued over grant program for Black women enlists prominent civil rights attorneysAttorneys for an Atlanta-based venture capital firm being sued over a grant program for Black women vowed to fight back against the lawsuit, calling it misguided. The lawsuit was brought by a nonprofit founded by an anti-affirmative action activist.
Read more »
Man waiting for Uber in San Francisco robbed by several armed men in masksA man was robbed at gunpoint while waiting for an Uber near Alamo Square in San Francisco on Monday, police said.
Read more »
Train derailment in Aberdeen to close road for ‘several days’An Aberdeen train derailment has caused road closures
Read more »
Massive fire rips through Greenspoint apartment complex: 1 sent to hospital, several families displacedOne person was transported to the hospital and several families have been displaced after a massive fire tore through an apartment complex in the Greenspoint area Wednesday, the Houston Fire Department said.
Read more »