Billionaire Bill Ackman Has 13% of His Hedge Fund in Uber. 1 Reason Why the Famed Investor Believes the Stock Will Skyrocket Over the Next 5 Years.
The shares trade at a discounted valuation, adding to the potential upside.
Overview
Billionaire investor Bill Ackman, who follows Warren Buffett's philosophy when picking businesses, runs Pershing Square Capital Management. The hedge fund firm he founded has nearly 13% of its entire portfolio in Uber Technologies (NYSE: UBER). Clearly, the market wizard is bullish on the ride-hailing and mobility enterprise.
One reason why Ackman is so optimistic on Uber is precisely the catalyst that can result in the growth stock skyrocketing in the next five years.
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Originally published at www.fool.com.
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