This Stock Could More Than Double By 2029, According to Billionaire Bill Ackman
Billionaire hedge fund manager Bill Ackman recently revealed his latest multibillion-dollar investment: mobility technology leader Uber (NYSE: UBER). According to a social media post by Ackman, Pershing Square Capital Management (the hedge fund he oversees) owns 30.3 million shares of the company.At Uber's current share price, Ackman's investment is worth roughly $2.4 billion, which is one of the largest investments Pershing has ever made.In the same post announcing the investment, Ackman wrote, "[W]e believe that Uber is one of the best managed and highest quality businesses in the world." And given the company's scale and massive profitability (22.5% net margin over the past four quarters), it's tough to argue with that statement. He also went on to say he believes Uber trades below its intrinsic value and that Pershing would share more details about its investment thesis "shortly." Continue reading
Billionaire hedge fund manager Bill Ackman recently revealed his latest multibillion-dollar investment: mobility technology leader Uber (NYSE: UBER). According to a social media post by Ackman, Pershing Square Capital Management (the hedge fund he oversees) owns 30.3 million shares of the company.
At Uber's current share price, Ackman's investment is worth roughly $2.4 billion, which is one of the largest investments Pershing has ever made.
In the same post announcing the investment, Ackman wrote, "[W]e believe that Uber is one of the best managed and highest quality businesses in the world." And given the company's scale and massive profitability (22.5% net margin over the past four quarters), it's tough to argue with that statement. He also went on to say he believes Uber trades below its intrinsic value and that Pershing would share more details about its investment thesis "shortly."
