Alibaba Group Holding Ltd BABA is trading higher Wednesday. Warren Buffett's right-hand man Charlie Munger nearly doubled his newspaper publisher and investment firm's stake in the company during the fourth quarter.
The Munger-run Daily Journal owned 602,060 shares of Alibaba at the end of 2021, according to a 13F filing with the Securities and Exchange Commission.
That's nearly a 100% increase compared to the 302,060 Alibaba shares the Daily Journal owned at the end of the third quarter.
Related Link: Charlie Munger Doubles Down On Alibaba In Q4: Does It Flag A Buy Signal?
Alibaba has faced selling pressure for essentially all of 2021 amid regulatory crackdowns in China.
Just yesterday, the stock traded lower in reaction to new Chinese cybersecurity rules set to take effect in February.
From Yesterday: Why Alibaba Shares Are Sliding Today
Alibaba operates China's online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer).
BABA Price Action: Alibaba has traded as low as $108.70 and as high as $274.29 over a 52-week period.
The stock was up 4.88% at $125.33 at time of publication.
Photo: Charles Chan from Flickr.
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