Billionaire Dan Loeb Just Bought 1 Shocking Stock

By Travis Hoium – Apr 13, 2024 at 5:09AM

NYSE: VZ

Verizon Communications

Market Cap

$167B

Today's Change

(1.03%) $0.41

Current Price

$40.09

Price as of April 29, 2024, 4:00 p.m. ET

Loeb is selling AI stocks for a big dividend payer.

Daniel Loeb is a well-known hedge fund investor who often takes activist positions in companies to push for change. Last quarter, he was selling artificial intelligence (AI) stocks and took a sizable position in an overlooked dividend stock. Travis Hoium covers the details in this video.

*Stock prices used were end-of-day prices of April 9, 2024. The video was published on April 10, 2024.

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Travis Hoium has positions in Alphabet and Verizon Communications. The Motley Fool has positions in and recommends Alphabet, Amazon, Danaher, Meta Platforms, Microsoft, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends T-Mobile US and Verizon Communications and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

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