George Soros Dumps Twitter And COVID-19 Play Zoom — Take Positions In Crypto-Linked Stocks In Q4

George Soros’ Soros Fund Management divested its entire holdings in Elon Musk-led Twitter and COVID-19 play Zoom Video Communications Inc. (NASDAQ: ZM). At the same time, the fund either took fresh positions or increased bets in some crypto plays.

Zooming Out: Soros Fund, which had 98,600 shares in Zoom Video at the end of the third quarter, liquidated its entire holdings in the fourth quarter. Post the COVID-19 pandemic, the company’s growth has moderated and it recently cut jobs to preserve margins.

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After Musk’s takeover of Twitter in October, Soros divested all the 90 million preference shares he held in Twitter.

Deepening Crypto Stake: Soros’ Fund also increased its bets on crypto stocks.

• Took fresh position in crypto miners Marathon Digital Holdings Inc. (NASDAQ: MARA) by buying 39.6 million preferred shares
• It increased bets in Michael Saylor-led MicroStrategy Inc. (NASDAQ: MSTR) from 50,000 shares to 100,000 shares, while holding 194.38 million preferred shares unchanged.
• The fund has also taken a short position on troubled crypto-focused bank Silvergate Capital Corp. (NYSE: SI), with a total of 100,000 shares worth of put options.

Other Notable Changes: Soros also initiated positions in used-car retailer Carvana Inc. (NYSE: CVNA) and ride-hailing company Lyft Inc. (NASDAQ: LYFT). It increased its stake in fitness equipment company Peloton Interactive Inc. (NASDAQ: PTON).

Amid the housing market weakness, Soros Fund substantially reduced its stake in homebuilder D.R. Horton Inc. (NYSE: DHI).

Photo: Courtesy of Wikimedia Commons

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