Does Billionaire Bill Ackman Know Something Wall Street Doesn’t? He Invested in These 2 Stocks That Have Dropped 33% and 18% Over the Past Year
Bill Ackman is shopping for great deals. Investors might want to follow suit.
Overview
Bill Ackman, the founder and CEO of Pershing Square Capital Management, has an impeccable record, as his firm has outperformed the S&P 500 over the past couple of decades. That's why every move he and his team make is carefully scrutinized. And during the second quarter, Pershing Square Capital Management made several noteworthy stock purchases.
For instance, it bought shares of Netflix (NASDAQ:NFLX) and doubled down on Uber Technologies (NYSE:UBER). What's noteworthy about these purchases is that both stocks have lost significant value over the past year: Netflix is down 33%, while Uber has declined 18%. Should investors follow Ackman's lead and load up on these stocks on the dip?
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Originally published at www.fool.com.