Nike shares pop as Bill Ackman's Pershing Square discloses a $229 million stake
Trending Articles- Bitcoin Drops to $70,000. U.S. Government Refuses to Bail Out Market, End of Bull Market or Golden Pit?
- Gold rallies further beyond $5,050 amid flight to safety, dovish Fed expectations
- A Crash After a Surge: Why Silver Lost 40% in a Week?
- Bitcoin Reclaims $70,000. Cathie Wood Claims Near Potential Bottom, Will This Time Be Different?
- Gold Price Forecast: XAU/USD falls below $5,050 as traders await US jobs data
- Bitcoin Rout. Bridgewater Founder Dalio Publicly Backs Gold.
Shares of Nike Inc (NYSE:NKE). 5.1% gained in afterhours trading Wednesday after Pershing Square (NYSE:SQ) Capital Management LP, the hedge fund led by billionaire investor Bill Ackman, disclosed a new position in the sportswear giant.
The stake, comprising approximately 3 million shares, was valued at around $229 million at the end of the second quarter.
The disclosure was made through a 13F filing, a quarterly report filed by institutional investment managers to the U.S. Securities and Exchange Commission that provides insights into their equity holdings.
The acquisition of shares by Pershing Square adds to its portfolio of investments, which also saw the addition of new stakes in investment management company Brookfield during the same period.
The announcement of these new positions has drawn attention to the investment strategies of Ackman, who is known for his high-profile bets in the market.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
