InvestorPlace – Stock Market News, Stock Advice & trading Tips
Stanley Druckenmiller, the renowned investor with a knack for strategic plays, has kept investors on their toes for decades. From his days managing the sizable Duquesne Capital to his present endeavors at the Duquesne Family Office, Druckenmiller’s moves have been the subject of intrigue and analysis on Wall Street. His latest maneuvers in the market reverberate through financial circles, piquing curiosity and contemplation. Let’s delve into the three stocks that Druckenmiller bought and sold in the final quarter of last year.
Palo Alto Networks (PANW): A Gamble That Didn’t Pay Off
Source: Sundry Photography / Shutterstock.com
An ill-fated move? The shares of Palo Alto Networks (NASDAQ:PANW) took a sharp nosedive, plunging 27% following the company’s downward revision of its full-year revenue and billings outlook. This downturn obliterated the stock’s gains for the year. Druckenmiller entered a new position in Palo Alto Networks in the previous quarter, acquiring 64,715 shares valued at $17.3 million at current prices.
Despite surpassing expectations in its latest financial report, Palo Alto Networks stumbled with its guidance. The company’s revised projections rattled investors, causing a significant drop in the stock price. With a lower forecast for full-year billings and revenue, the future appears murky. Will Druckenmiller double down as the stock falters? Perhaps, but for now, the gamble seems untimely.
Barrick Gold (GOLD): Riding the Waves of Gold Prices
Source: aerogondo2 / Shutterstock.com
Adding to his portfolio, Druckenmiller ventured into Barrick Gold (NYSE:GOLD) amidst a record-high gold price of $2,135.39 per ounce in December. However, this strategic move has yet to yield favorable results. Barrick Gold’s stock has plummeted 19% year-to-date, witnessing a stark decline from its peak during the Covid-19 pandemic.
Gold prices have meandered around $2,000 per ounce, with speculations of an upswing once the Federal Reserve trims interest rates. Should this scenario materialize, Druckenmiller’s investment in GOLD stock could prove lucrative. Nonetheless, patience may be the virtue needed as rate adjustments play out. Meanwhile, Barrick Gold’s announcement of a $1 billion stock buyback plan following mixed Q4 2023 results adds a hint of optimism.
Amazon (AMZN): Trimming the Sail During Smooth Sailing?
Source: Tada Images / Shutterstock.com
Contrary to his buy-ins, Druckenmiller parted ways with e-commerce juggernaut Amazon (NASDAQ:AMZN) towards the end of 2023. This decision, against a backdrop of positive developments for the company, raises eyebrows. Amazon’s robust earnings report ignited a rally in early February, followed by the news of its inclusion in the Dow Jones Industrial Average, supplanting Walgreens Boots Alliance (NASDAQ:WBA).
The induction into the Dow Jones Industrial Average bodes well for Amazon, triggering increased purchases by index-tracking funds. Although Druckenmiller divested his AMZN stake, Goldman Sachs highlights hedge funds’ continued interest in Amazon among mega-cap tech stocks. With AMZN stock soaring 12% in 2024 and a notable 78% spike over the past year, the timing of the exit remains a subject of speculation.
As Joel Baglole offers insights into Druckenmiller’s strategic stock dealings, the market awaits the next chapter in this investing saga. Anecdotes from Baglole’s extensive career in business journalism bring a nuanced perspective to Druckenmiller’s maneuvers within the market trends.
More From InvestorPlace
The post What Would Stanley Druckenmiller Do? 3 Stocks the Famed Investor Bought & Sold in Q4. appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
