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Baupost's Seth Klarman takes additional stake in Amazon

Yahoo Finance Live anchors discuss how Amazon stock is performing after Baupost Group took an additional stake in the company.

Video transcript

JULIE HYMAN: The reason we were looking at Amazon as well is that Seth Klarman of Baupost is taking a stake in that company, according to CNBC. So it's not giving the shares a boost, they're actually moving lower here this morning. But nonetheless, it's interesting that we're finding about these well-known sort of hedge fund guys who are investing in these big companies.

BRIAN SOZZI: And he's seen as a value investor so interesting to see him take some position Amazon. Also Warner Brothers, too, I believe as well. Coming off of their very challenging quarter.

BRAD SMITH: Yeah, absolutely. Amazon and all of the-- I mean, both of these kind of intertwined, too. Of course, Amazon has so many other businesses outside of what Disney has.

But for both of them right now in the media business where it's gonna get even more testy, competitive, and going after sports rights acceleratingly so as well in the near term, that's where we could see some of that overlap in the types of contracts that they're looking to go after.