Billionaire Bill Ackman Called SpaceX's Starlink a "Near Monopoly" in Global Satellite Internet, But Said He Won't Buy the Stock.
It's less about the business versus these key metrics.
Overview
Billionaire Bill Ackman made most of his fortune running his hedge fund, Pershing Square Capital Management. And like many billionaires who make their fortune in the stock market, when Ackman speaks on investments, he tends to command more attention than your average Joe.
Ackman recently gave a nod to Space Exploration Technologies (NASDAQ: SPCX), saying the company's Starlink business -- which provides satellite internet service -- has a "near monopoly" and that many on Wall Street follow the rule of "never bet against Elon" Musk.
Details
Despite the praise for Musk and Starlink, Ackman says he isn't touching SpaceX right now because of one key concern.
Source
Originally published at www.fool.com.
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