Nike Looks Like It's About to Disappear From Bill Ackman's Portfolio. But the Billionaire Investor Is Really Doubling Down.
In the middle of 2024, Bill Ackman's fund, Pershing Square Capital Management, took a new stake in the iconic footwear and apparel brand Nike (NYSE: NKE). While the brand carries tremendous recognition globally, the stock is down over 31% in the last year. Nike has struggled to keep up with competition and lost some of its marketing luster that for so many years captured the attention of the sports world.In a recent presentation, Ackman and Pershing disclosed that Nike will soon look like it's disappeared from Pershing's portfolio when the fund files updated disclosures for Q1 2025 in a few months. However, Pershing doubled down on the embattled stock.Continue reading
In the middle of 2024, Bill Ackman's fund, Pershing Square Capital Management, took a new stake in the iconic footwear and apparel brand Nike (NYSE: NKE). While the brand carries tremendous recognition globally, the stock is down over 31% in the last year. Nike has struggled to keep up with competition and lost some of its marketing luster that for so many years captured the attention of the sports world.
In a recent presentation, Ackman and Pershing disclosed that Nike will soon look like it's disappeared from Pershing's portfolio when the fund files updated disclosures for Q1 2025 in a few months. However, Pershing doubled down on the embattled stock.
