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BUZZ-Uber at three-month highs after Bill Ackman builds stake in company

Reuters
Feb 08, 2025
BUZZ-Uber at three-month highs after Bill Ackman builds stake in company

** Shares of ride-hailing platform Uber Technologies UBER.N rise 7.8% to $75.3, hitting their highest in three months

** Billionaire investor Bill Ackman says in a post on social media platform X that beginning early January he began acquiring a stake in UBER and currently owns 30.3 million shares

** "While a great business, Uber suffered from erratic management" - Ackman

** Earlier this week, UBER forecast Q1 bookings below estimates and reported a profit miss in the October-December period

** UBER has a market capitalization of over $147 billion as of the last close

** Including session gains, UBER up close to 25% so far this year

(Reporting by Shashwat Chauhan in Bengaluru)

((Shashwat.Chauhan@thomsonreuters.com;))

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