Alibaba (BABA) & JD.com (JD) Spark Interest From Scion Asset Management

Notorious short-seller, Michael Burry's Scion Asset Management takes a stake in Chinese companies Alibaba (BABA) and JD.com (JD). Alex Coffey and Jenny Horne discuss this as Scion took a new position of 50K ADRs in BABA, with a $5.2M stake in BABA. Scion added 75K ADRs in JD, with a $3.9M stake in JD. They also compare these stocks to other Chinese stocks which include Baidu (BIDU) and Tencent (TCHEY). Alex then demonstrates an example trade using BABA. The trade type is buy a call calendar and the direction is bullish. Tune in to find out more about the stock market today.