Bill Ackman Bets Big on Uber Stock. Should You Follow Him?
Uber is going all-in on robotaxis.
Overview
Bill Ackman, the founder of Pershing Square Capital Management, is known for his aggressive investment style. Often, his portfolio is dominated by a handful of names with heavy concentrations.
Right now, Ackman's hedge fund has just 14 holdings. Just five names account for more than half of the portfolio's total value. Ackman's biggest current holding is Uber Technologies (NYSE: UBER), with a portfolio weighting of nearly 13%. Last quarter, Ackman increased his Uber position by 14%, buying more than 4 million shares.
Details
Why is Bill Ackman so bullish on Uber stock? Should you follow him in? The answers to these questions come down to one key growth catalyst.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.