Shares of Uber Surge After Billionaire Investor Bill Ackman Reveals Massive Stake
Shares of the ride-sharing giant Uber Technologies (NYSE: UBER) rose nearly 9%, as of 12:38 p.m. ET today, after billionaire investor Bill Ackman revealed that his fund Pershing Square Capital Management had launched a new stake in the company that is now valued at over $2 billion. That would make the position the largest in Pershing's 11-stock portfolio, based on values at the end of the third quarter.On social media platform X, Ackman tweeted today that his fund began building the Uber position in early January and today owns 30.3 million shares. Based on a current share price of $75.58, as of this writing, that equates to over a $2.3 billion stake. In the third quarter, Pershing's largest position was Brookfield Corp, valued over $1.7 billion.Continue reading
Shares of the ride-sharing giant Uber Technologies (NYSE: UBER) rose nearly 9%, as of 12:38 p.m. ET today, after billionaire investor Bill Ackman revealed that his fund Pershing Square Capital Management had launched a new stake in the company that is now valued at over $2 billion. That would make the position the largest in Pershing's 11-stock portfolio, based on values at the end of the third quarter.
On social media platform X, Ackman tweeted today that his fund began building the Uber position in early January and today owns 30.3 million shares. Based on a current share price of $75.58, as of this writing, that equates to over a $2.3 billion stake. In the third quarter, Pershing's largest position was Brookfield Corp, valued over $1.7 billion.
