Billionaire David Tepper Sells Amazon Stock and Buys an AI Stock Wall Street Says May Soar 55%
David Tepper is the founder and president of Appaloosa Management, one of the 15 most successful hedge funds in history as measured by net gains since inception, according to LCH Investments.During the fourth quarter, Tepper sold 600,000 shares of Amazon (NASDAQ: AMZN), trimming his position by 19%. He also purchased 1.4 million shares of Vistra (NYSE: VST), more than doubling his stake. Vistra is a power-generation company that could benefit if artificial intelligence boosts data center electricity demand.Importantly, shares of Amazon and Vistra have declined about 10% since the fourth quarter ended, but Wall Street expects both stocks to rebound sharply in the coming months, as detailed below:Continue reading
David Tepper is the founder and president of Appaloosa Management, one of the 15 most successful hedge funds in history as measured by net gains since inception, according to LCH Investments.
During the fourth quarter, Tepper sold 600,000 shares of Amazon (NASDAQ: AMZN), trimming his position by 19%. He also purchased 1.4 million shares of Vistra (NYSE: VST), more than doubling his stake. Vistra is a power-generation company that could benefit if artificial intelligence boosts data center electricity demand.
Importantly, shares of Amazon and Vistra have declined about 10% since the fourth quarter ended, but Wall Street expects both stocks to rebound sharply in the coming months, as detailed below:
