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Billionaire Dan Loeb Slashed Third Point's Stake in Amazon and Piled Into This Consumer-Facing Stock That's Gained 3,750% Since Its IPO | The Motley Fool
- Third Point trimmed Amazon by 57% in the fourth quarter, signaling profit-taking amid high tech valuations.
- Loeb opened a large new position in Chipotle Mexican Grill, buying about 4.7 million shares.
- Chipotle has risen about 3,750% since its 2006 IPO, a factor in Loeb’s new position.
- The Fool notes a broader AI-driven rally may keep mega-cap tech valued highly, potentially limiting future buys of Amazon.
- Loeb also expanded positions in other holdings while trimming Amazon, indicating a balanced approach.
- The fourth-quarter 13F filings reveal Third Point’s updated portfolio allocations and new bets.
- Amazon remains a Magnificent Seven member and has faced a recent price move around $207.70.
- Third Point reduced its Amazon stake by 23% with a 645,000-share sale in the quarter.
- Loeb’s strategy mixes profit-taking in tech with fresh bets in consumer staples amid inflation concerns.
- Loeb’s commentary suggests he sees value in consumer-focused names even as tech stocks remain challenged.
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