George Soros Soros Fund Management sold all of its holdings in Elon Musk-lead twitter and COVID-19 play Zoom Video Communications Inc. ZMAt the same time, the fund took new positions or increased stakes on some cryptocurrency trades.
Zoom out: The Soros Fund, which held 98,600 shares of Zoom Video at the end of the third quarter, liquidated all of its holdings in the fourth quarter. The company’s growth slowed after the COVID-19 pandemic, and it recently cut jobs to maintain margins.
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After Musk took over Twitter in October, Soros sold all of his 90 million preferred shares in Twitter.
Deepening Crypto Stake: Soros funds also increased their investment in cryptocurrency stocks.
- Gaining new ground in crypto mining Marathon Digital Holdings Co., Ltd. Mara Purchased 39.6 million preferred shares
- it increased the stakes Michael Thaler-lead Micro Strategy Inc. MSTR It holds 194.38 million preferred shares, from 50,000 to 100,000 shares.
- It launched a position in a crypto-friendly bank Silvergate Capital Corporation SI By purchasing 100,000 shares.
Other notable changes: Soros also launched a position at a used car retailer Carvana Inc. CVNA and dispatch company Lift Co., Ltd. liftIncreased stakes in fitness equipment companies Peloton Interactive Inc. PTON.
Soros Fund sharply cut stakes in homebuilders amid housing market downturn DR Houghton Co., Ltd. DHI.
Photo: Courtesy of Wikimedia Commons
Read the following: George Soros increased his Tesla shares by 270% as stocks plummeted in the fourth quarter. But that’s not all. He’s now also betting on this legacy automaker.