By Mackenzie Tatananni
Uber Technologies stock is trading at a "massive discount," Bill Ackman said Friday as he revealed that his hedge fund had established a significant stake in the ride-hailing company.
In a post on X, the CEO of Pershing Square Capital Management said his hedge fund began buying stock of Uber in January and accumulated a total of 30.3 million shares.
Uber stock jumped 8.3% to $75.76 on Friday. Based on current levels, Pershing Square's stake would be worth around $2.3 billion.
Ackman described Uber as "one of the best managed and highest quality businesses in the world," arguing that its stock could be purchased at a lofty discount to its intrinsic value. "This favorable combination of attributes is extremely rare, particularly for a large cap company," he wrote.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
February 07, 2025 12:31 ET (17:31 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。