According to a recent 13F filing, Steve Cohen's Point72 Asset Management has sold its positions in the following 10 stocks:
Albemarle Corporation (ALB)** is a chemical company that specializes in lithium and bromine. The company has been facing headwinds due to rising costs and supply chain disruptions.
*Airbnb, Inc. (ABNB)** is a home-sharing company that has been hit by the easing of travel restrictions and the return of office work. The company's bookings have declined in recent months.
*PepsiCo, Inc. (PEP)** is a food and beverage company that has been facing rising costs and competition. The company's earnings have been under pressure.
*Block, Inc. (SQ)** is a payments company that has been facing headwinds due to the decline in cryptocurrency prices. The company's stock has been volatile in recent months.
*Booking Holdings Inc. (BKNG)** is a travel company that has been hit by the easing of travel restrictions and the return of office work. The company's bookings have declined in recent months.
*Constellation Brands, Inc. (STZ)** is a beverage company that has been facing rising costs and competition. The company's earnings have been under pressure.
*Danaher Corporation (DHR)** is a medical device company that has been facing headwinds due to the decline in elective surgeries. The company's earnings have been under pressure.
*Mastercard Incorporated (MA)** is a payments company that has been facing headwinds due to the decline in e-commerce spending. The company's earnings have been under pressure.
*Visa Inc. (V)** is a payments company that has been facing headwinds due to the decline in e-commerce spending. The company's earnings have been under pressure.
*Walgreens Boots Alliance, Inc. (WBA)** is a drugstore chain that has been facing headwinds due to the decline in pharmacy sales. The company's earnings have been under pressure.
These sales come at a time when the stock market is facing a number of headwinds, including rising inflation, interest rates, and geopolitical uncertainty. Cohen's decision to sell these stocks suggests that he believes they are at risk of further declines in the coming months.
It is important to note that these are just a few of the stocks that Cohen has sold in recent months. He still holds a significant number of positions in other companies, including Amazon, Alphabet, Microsoft, and Berkshire Hathaway.
Ultimately, it is up to each individual investor to decide whether or not to sell these stocks. However, Cohen's decision to sell them is a sign that he believes they are at risk of further declines.
Source: bard.google.com
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