Meme Stock Icon Cohen Buys Into Alibaba in Rare China Activism

(Bloomberg) — Meme-stock investor Ryan Cohen has taken a stake in Alibaba Group Holding Ltd. and is pushing the e-commerce leader to buy back more of its shares, in a rare case of activism targeting a prominent Chinese firm.

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Cohen, who rallied individual stock investors to help propel shares of moribund companies like GameStop Corp., built up a stake worth hundreds of millions of dollars in the second half of last year, people familiar with the matter said, asking not…

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