Billionaire hedge fund manager Bill Ackman announced on February 7, 2025, that his firm, Pershing Square, has built a significant stake in Uber Technologies, valued at $2.3 billion. Ackman revealed that his fund began acquiring Uber shares in early January, amassing 30.3 million shares. This disclosure represents a major vote of confidence from a prominent institutional investor.
In a public statement, Ackman praised Uber as 'one of the best managed and highest quality businesses in the world.' He further asserted that the company's stock could still be purchased at a 'massive discount to its intrinsic value,' highlighting the rarity of such a combination of attributes for a large-cap company. This endorsement from a respected investor can significantly influence market perception.
Ackman also commended CEO Dara Khosrowshahi for transforming Uber into a 'highly profitable and cash-generative growth machine' since joining in 2017. This substantial investment and public backing from Pershing Square are expected to attract further investor interest and support Uber's valuation. It underscores a strong belief in the company's long-term growth prospects and operational execution.
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