** 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;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.