Forget Nvidia. Two Billionaire Investors Just Cut Their Positions -- and They Both Bought the Same Fintech Stock.
Billionaire hedge fund pioneer Paul Tudor Jones of Tudor Investment reduced his stake in chip giant Nvidia in the first quarter, undoubtedly making a tidy profit on the sale. He then funneled that money into a new investment in embattled fintech company (NASDAQ: PYPL).
Jones wasn't the only investor making this move, as Philippe Laffont of Coatue Management made a similar move, trimming his stake in Nvidia while adding to his PayPal position. The investor, worth an estimated $6 billion, piled into PayPal shares, taking his holdings from 27,200 shares at the end of 2023 to over 8 million shares at the end of March.
Source Fool.com