Shares of Uber Surge After Billionaire Investor Bill Ackman Reveals Massive Stake

Shares of the ride-sharing giant Uber Technologies (UBER 8.93%) 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. That would make the position the largest in Pershing's 11-stock portfolio, based on values at the end of the third quarter.Ackman has always been a fanOn social media platform X, Ackman tweeted today that his fund began building ...