Ackman Says He’s Amassed a Stake in Uber Worth $2 Billion (3)

Bill Ackman said his hedge fund Pershing Square Capital Management owns 30.3 million shares of Uber Technologies Inc., citing the strength of the rideshare company’s management and saying that its stock is undervalued.

The firm began building a position in Uber in early January, Ackman said Friday in a post on X. Based on Uber’s closing stock price on Thursday, Ackman’s share of the company is worth about $2 billion, or a little over 1% of the company’s market valuation.

“We believe that Uber is one of the best managed and highest quality businesses in the world,” he wrote ...