The negative market reaction following the Q4 2024 earnings release is a major sign that the market is too focused on short-term performance. In the meantime, Uber is making significant progress in achieving high GAAP profitability. More importantly, even more signs are emerging that the company is well-positioned to secure significant competitive advantages.
Uber stock gained a second straight day as Bill Ackman said he had built a stake worth more than $2 billion. The post Uber Stock Surges For Second Day As Ackman Announces $2 Billion Stake appeared first on Investor's Business Daily.
Uber's stock extends its surge as hedge funder Ackman says he's amassed a 30.3-million-share stake since early January.
Uber shares were trading at more than 9% higher after Ackman revealed his stake in the company.
Billionaire Bill Ackman disclosed Friday his hedge fund made a major bet on ride hailing giant Uber, helping boost shares of the San Francisco-based company to their highest level in months as part of a whirlwind week for Uber stock.
Billionaire hedge fund manager Bill Ackman has built a sizable stake in Uber Technologies Inc (NYSE: UBER). On Friday, the founder and chief executive of Pershing Square said he owned more than 30 million shares of the ride-hailing giant.
Shares of the ride-sharing giant Uber Technologies (UBER 9.27%) rose nearly 9%, as of 12:38 p.m. ET today, after billionaire investor Bill Ackman revealed that his fund Pershing Square Capital Management had launched a new stake in the company that is now valued at over $2 billion.
Shares of Uber Technologies jumped to a three-month high on Friday after billionaire hedge fund manager Bill Ackman announced that he had taken a position in the ride sharing platform.
Uber is trading at a ‘massive' discount, says billionaire hedge fund manager Bill Ackman.
Bill Ackman reveals he's been building a more than $2 billion stake in Uber
Uber's Q4 FY24 results were unimpressive and there are no positive beats on guidance to compensate. Management's claims of accelerating business momentum are not supported by key numbers, indicating a disconnect between commentary and actual performance. The CEO painted a future where Uber has a place in solving for commercially viable utilization and vehicle care problems in an autonomous vehicles world.
Uber's NYSE: UBER stock price will set a new high because of three factors: its business, cash flow, and AI. These factors set Uber apart from competitors, making it the leading player in ride-hailing and autonomous driving and an attractive target for investors.