Uber (NYSE: UBER) got a huge new investor last week when hedge fund manager Bill Ackman announced a $2.3 billion stake in the company. Ackman is known as a long-term investor willing to bet big on concentrated ideas,

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Uber stock hit its highest level since October after Ackman disclosed his Pershing Square hedge fund accumulated a 1.4% stake in the ride hailer.

Last week, the stock of Uber Technologies went on a wild ride, falling hard after Uber reported earnings on Feb. 5, only to rocket higher toward the end of the week. On earnings, while revenue and earnings per share actually beat expectations,

Bill Ackman has amassed a roughly $2.3 billion stake in Uber, saying in a post on X that the ride-hailing company's stock is undervalued. Ackman said Friday in the post that his Pershing Square invest

Ride-hailing group is ‘one of the best managed and highest quality businesses in the world’, activist investor says.

Billionaire hedge fund manager Bill Ackman recently revealed his latest multibillion-dollar investment: mobility technology leader Uber ( UBER -2.14%). According to a social media post by Ackman, Pershing Square Capital Management (the hedge fund he oversees) owns 30.3 million shares of the company.

Billionaire Bill Ackman has made huge bets in favour of Uber, specifically predicting huge growth potential in ride-sharing, food delivery, and newer markets like advertising and autonomous vehicles.

Bill Ackman is one of the most widely followed investment managers in the world. He's in charge of Pershing Square Capital, a hedge fund focused on investing in just a handful of Ackman's best ideas. His highly concentrated portfolio is full of great companies, but he might have just made one stock the biggest holding at Pershing Square.