Pepsi Stock Jumps as Elliott Investment Takes $4 Billion Stake

PepsiCo Inc (NASDAQ:PEP) stock was last seen up 3.6% at $153.97, after the Wall Street Journal reported that activist investor Elliott Investment Management has taken a $4 billion stake in the beverage giant, citing a "rare" and "historic" opportunity for a turnaround. The shares have been underperforming on the charts, while the company cuts costs to improve its margins. Should these gains hold, PEP will mark its largest single-day percentage gain since a 3.8% pop in April. The stock has been chopping high ...