'Buy the dip has this skill, maybe soon there will be a new millionaire.'
Tiger Global Management, a US investment firm, has reportedly increased its holdings in 3 tech giants as the companies experience a drop in stock value.
Tiger Global's filing saw the firm increase its stake in Microsoft Corp, Jack Dorsey's Block Inc and Uber Technologies over the past 3rd quarter (Q3).
It was detailed that the firm increased its stake in Microsoft by 16.4%, making it Tiger Global's 2nd largest investment during Q3 and added another 9.3 million shares to Uber.
For context, the tech giants in the US Nasdaq Composite index are down 28% so far this year due to recession risks and geopolitical pressures.
It is generally known that US technology companies are currently struggling to maintain their performance especially as the monetary tightening policy by the central bank in curbing inflation makes investors cautious about spending.
In addition, the US investment firm is also said to be buying shares of other potential technology companies such as Pagaya Technologies Ltd and PayPal Holdings.
Despite the additions, the firm is seen also reducing stakes in companies such as JD.com Inc, Nu Holdings, Blend Labs Inc and SentinelOne Inc.
Breaking down the firm's investment portfolio, it lost $10.9 billion in Q3 or down $1 billion from June's peak.
