Uber Technologies (UBER -2.14%) recently reported mixed financial results for the fourth quarter of 2024. Revenue of just under $12 billion came in ahead of Wall Street expectations.
Billionaire hedge fund manager Bill Ackman recently revealed his latest multibillion-dollar investment: mobility technology leader Uber (UBER -2.14%). According to a social media post by Ackman, Pershing Square Capital Management (the hedge fund he oversees) owns 30.3 million shares of the company.
I rated Uber (UBER -0.80%) as my top stock to buy in 2025, so I am not surprised to see the market realize the hidden value in Uber stock.
Billionaire Bill Ackman, the CEO of Pershing Square Capital Management, is known for investing in cash-flowing consumer stocks and making contrarian bets.
Last week, the stock of Uber Technologies went on a wild ride, falling hard after Uber reported earnings on Feb. 5, only to rocket higher toward the end of the week.
Uber: Strong Bookings Today, Tremendous AV Opportunity Tomorrow
Billionaire Bill Ackman is the CEO of Pershing Square Capital Management, a hedge fund that returned 191% in the last five years. Comparatively, the S&P 500 (SNPINDEX: ^GSPC) returned 102% over the same period.
Bill Ackman is one of the most widely followed investment managers in the world. He's in charge of Pershing Square Capital, a hedge fund focused on investing in just a handful of Ackman's best ideas.
Shares of Uber Technologies (UBER 5.44%) were moving higher for the second day in a row, seemingly in response to billionaire Bill Ackman's announcement that he has invested more than $2 billion into Uber stock. Additionally, investors seemed to shrug off some news about a rival or even saw it as a positive sign.
Joe Terranova, Senior Managing Director for Virtus Investment Partners, joins CNBC's "Halftime Report" to explain why he's buying back into Uber after Bill Ackman announced a position in the ridesharing company.
Recent breaking news gave Uber NYSE: UBER investors a welcome boost as the stock swung into positive territory over the past year. The ride-hailing giant, which had significantly underperformed over the previous year, surged 6.59% on Friday and over 11% for the week following its Q4 2024 earnings report.
Uber (UBER) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.