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Key Facts on Dan Loeb’s Investment Moves
Billionaire investor Dan Loeb, managing over $6.5 billion in assets with Third Point, sold all 500,000 shares of Tesla (NASDAQ: TSLA) during the March-ended quarter of 2023. This exit may stem from a decline in Tesla’s vehicle margin and competition, alongside concerns about unsustainable earnings sources and a high valuation with a forward-year earnings multiple of 105.
In contrast, Loeb purchased 1.45 million shares of Nvidia (NASDAQ: NVDA), which has experienced a staggering stock performance increase of over 420,000% since its IPO in January 1999. Nvidia’s projected sales growth indicates an increase from $27 billion in fiscal 2023 to an estimated $200 billion by fiscal 2026, fueled by demand for its AI-capable graphics processing units (GPUs).
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