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Adobe (NASDAQ: ADBE) stock drew attention earlier in April on a later-confirmed rumor that the legendary ‘Big Short’ trader Michael Burry has taken a long position in the equity.
Adobe approved a $25 billion stock buyback program to signal confidence amid AI disruption fears.
KEY POINTS
- Michael Burry confirmed a long position in Adobe, gaining 6.18% by April 22's premarket session.
- Burry sees Adobe and other software stocks as having bottomed despite recent AI-related downturn concerns.
- Burry also disclosed new investments in Autodesk, Veeva, PayPal, Salesforce, and MSCI this April.
COMPANIES
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