Prediction: This Bill Ackman Company Will Replace Its CEO by Year End. Here's Why.

Bill Ackman just revealed a position in a new company.The consumer cyclical sector has been one of the worst performers so far in 2024. Within this broader segment, the apparel retail industry has generated just a 0.2% return while the footwear and accessories market has declined 9.8% so far this year.Given these data points, it's not entirely surprising to see that shares of shoe and clothing company Nike (NKE 0.77%) have cratered by more than 20% in 2024.While that may spook many investors, Pershing Squar ...