Ryan Cohen, the meme-stock maven and GameStop CEO, has ramped up his investment in Alibaba Group (NYSE: BABA), pushing his personal stake to roughly $1 billion, according to the latest WSJ report. The investment translates to about 7 million shares in the Chinese e-commerce powerhouse, underscoring Cohen’s bullish outlook on China’s economic future.
This isn’t his first rodeo with Alibaba—two years ago, The Wall Street Journal reported he poured hundreds of millions into the company. Now, his latest move ramps up his bet on the firm’s potential.
In 2023, Cohen didn’t hold back his opinions. He privately pressed the Chinese firm to accelerate its share-buyback program, insisting the stock was trading far below its true value. He also voiced his intent to forge a lasting partnership with the company. According to insiders, Cohen and Alibaba have had more recent discussions, but the specifics of Cohen’s plans for the Chinese e-commerce giant remain unclear.
Cohen, who co-founded online pet-supplies store Chewy (NYSE: CHWY) in 2011 and led it as CEO, has been steering GameStop (NYSE: GME) as its chief executive since 2023. His growing stake in Alibaba Group (NYSE: BABA) signals he’s not done making waves in the market.
Details of Cohen’s broader strategy are scarce, but one thing’s clear: he’s all in on Alibaba’s long game. Investors are watching closely to see how this plays out.
