Uber surges after Bill Ackman reveals $2B stake in company, credits actor Edward Norton

Core Insights - Billionaire hedge fund manager Bill Ackman has acquired approximately $2 billion worth of shares in Uber, representing around 1$161.13 billion, leading to a surge in Uber's stock price by over 9% [1][10]. Company Overview - Ackman began acquiring Uber shares in early January and currently owns 30.3 million shares [2]. - Under CEO Dara Khosrowshahi, who took over in 2017, Uber has transformed into a highly profitable and cash-generative business, recovering from initial struggles post-IPO [4][5]. Management and Performance - Ackman criticized the previous management under co-founder Travis Kalanick, highlighting the erratic leadership that affected the company's performance [4]. - Khosrowshahi's leadership has been praised for stabilizing the company and driving profitability, with Uber's stock recently surpassing $75 as investor confidence grows [7][9]. Investment Thesis - Ackman believes Uber is one of the best-managed companies globally and is currently undervalued compared to its intrinsic value, a rare combination for a large-cap company [5]. - The favorable attributes of Uber, combined with its recent performance, present a compelling investment opportunity [5].