GameStop CEO and billionaire investor Ryan Cohen has increased his personal stake in Chinese e-commerce giant Alibaba to roughly 7 million shares worth about $1 billion, the Wall Street Journal reported Thursday.

CEO and billionaire investor Ryan Cohen added stake in Alibaba (BABA.US) to about 7 million shares, worth about US$1 billion, the Wall Street Journal reported on Thursday. Cohen's overweighting of Alibaba's shares is due to his bullishness on the long-term growth of the Chinese economy,

Alibaba posted its fastest pace of revenue growth in more than a year in its December quarter. Read more at straitstimes.com.

Investing.com -- Ryan Cohen, known for his influential role in the meme-stock rallies during the pandemic, has continued to increase his investment in Alibaba (NYSE: BABA) Group. According to Wall Street Journal sources, his personal stake in the Chinese e-commerce giant now stands at approximately $1 billion, equivalent to around 7 million shares.

Ryan Cohen still has his sights set on Alibaba Group and has been building up his position in the Chinese e-commerce behemoth.