Count the king of meme-stocks among the investors betting that Alibaba Group Holding’s stellar recent run can last.GameStop CEO Ryan Cohen has lifted his stake in the Chinese online retailer to 7 million shares worth about $1 billion in recent months,

GameStop CEO and billionaire investor Ryan Cohen has increased his personal stake in Chinese e-commerce giant Alibaba to roughly 7 million shares worth about $1 billion, the Wall Street Journal reported Thursday.

CEO and billionaire investor Ryan Cohen added stake in Alibaba (BABA.US) to about 7 million shares, worth about US$1 billion, the Wall Street Journal reported on Thursday. Cohen's overweighting of Alibaba's shares is due to his bullishness on the long-term growth of the Chinese economy,

KEY TAKEAWAYS U.S.-listed shares of Alibaba Group are rising in premarket trading Friday after GameStop CEO Ryan Cohen reportedly raised his stake in the Chinese tech giant and as investors cheered the company’s "aggressive" plans to boost AI spending.

GameStop CEO Ryan Cohen has expanded his stake in Alibaba to roughly 7 million shares worth about $1 billion. The investment signals a bullish outlook on China’s economic growth. Alibaba’s shares surged over 8% on Thursday after reporting a sharp profit increase in the December quarter,