Nike Shares Soar as Bill Ackman's Pershing Square Capital Builds Stake
Billionaire Investor William Ackman Takes New Stakes in Nike
Billionaire investor William Ackman has built new stakes in sportswear company Nike and investment firm Howard Hughes Corp.
Pershing Square Capital's Stake in Nike
Ackman's hedge fund, Pershing Square Capital Management, owned roughly 3% of Nike as of August 14, 2024.
A spokesman for Ackman declined to comment on Pershing Square's intentions for Nike.
Nike Shares Rise on News
Nike shares gained in late trading after news of Pershing Square's stake became public.
Shares of Nike rose about 5% postmarket after the news.
Nike Shares Advance in Premarket Trading
Nike shares advanced in premarket trade on Thursday after the news.
Pershing Square's History with Nike
Pershing Square has been involved with Nike before, making a US$100 million profit in just a few months when it sold its stake in 2022.
Nike Shares Slump 28% in 2024
Nike shares have slumped 28% this year amid concerns about slowing demand for its products.
Disclaimer
The information provided in this article is for informational purposes only and should not be construed as financial advice. Please consult with a qualified financial advisor before making any investment decisions.
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