This year's first-quarter 13-F filings revealed that Daniel Loeb's Third Point LLC reduced its stake in Amazon (AMZN) stock from 235k shares to 17.5k shares. Loeb's Third Point is one of many institutions that lost interest in Amazon stock during the first quarter. In fact, TipRanks' hedge fund trading activity tool suggests that 2.9 million Amazon shares were sold by hedge fund managers during the previous quarter, conveying a bearish sentiment among the big hitters. Hedge funds generally specialize in short-term tactical investment strategies. Thus, the recent sell-off suggests that Amazon stock possesses fault lines.
https://www.tipranks.com/news/article/third-point-reduces-its-amazon-stake-whats-next?utm_source=advfn.com&utm_medium=referral
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