Click Caution on Chinese Internet Stocks

An amended 13G filed with the Securities and Exchange Commission has placed Steadfast Capital Management's total holdings at over 19 million shares of YY (YY), a $1.6 billion market cap Chinese online communications software company.

This is up from the more than 14 million shares that Steadfast, which is managed by Robert Pitts, had reported owning in March and gives the fund ownership of almost 11% of the total shares outstanding. YY became publicly traded in November 2012, and was trading at about $14 at the end of that month; it is currently priced at about $29 per share....565 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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