Billionaire Investor Bill Ackman Continues to Buy This Stock While It's Down Over 50%. Should You Buy Before It Roars Back?
An iconic brand gone stale has begun showing signs of life.
Wall Street money managers running massive investment firms must disclose their trades quarterly. Recently, billionaire investor Bill Ackman's firm, Pershing Square, disclosed its trades for the fourth quarter of 2024. Among the moves was the continued accumulation of Nike (NYSE: NKE), the sneaker and sporting apparel giant whose fall from grace has caused it to lose over 50% of its peak value since late 2021.
Nike is currently the fifth-largest holding (just over 11%) in Pershing Square's 10-stock portfolio. Investors should never simply follow these trades, but Ackman's continued buying does raise eyebrows because it signals conviction from one of the market's most famous personalities.
Now, Nike's comeback story could be underway. The company recently announced a potentially game-changing move that could be just what Ackman and other shareholders hoped for.
