FYI: Beset by legislative scrutiny and negative press, this spring was not kind to Facebook Inc. Even so, hedge funds were pouring money into the beleaguered social media giant, even as its stock was falling. So far, it’s been a very lucrative trade.
According to data compiled by Goldman Sachs Group Inc. at the end of the first quarter, 97 hedge funds counted Facebook as one of their top 10 holdings at the end of the first quarter. That’s more than any other single stock, and up from the 81 funds that had it in their top 10 as of September of last year, when Chief Executive Officer Mark Zuckerberg and his team were just starting to enter months of questions surrounding usage of the platform to influence the 2016 elections, and before anyone had heard of Cambridge Analytica.
Regards,
Ted
https://www.fa-mag.com/news/facebook-has-the-most-hedge-funds-counting-it-as-a-top-holding-39027.html?print
