Nike Stock Rises After Ackman's Stake
Hedge Fund Purchases Millions of Nike Shares
Shares of Nike (NKE) gained in after-hours trading Wednesday after Pershing Square Capital Management LP disclosed a new stake in the world's largest sportswear company.
The filing shows that Ackman's hedge fund Pershing Square Capital Management owned roughly 3 million shares of Nike and 68 million shares of Nike NKE, which are shares of Nike that trade in the Netherlands.
Stock Price Jumps 5%
Shares of Nike rose about 5% post-market after Bill Ackman's Pershing Square Capital Management disclosed a new stake in the company.
The stock jumped to $118.80 per share, up from its closing price of $112.80.
Ackman's History with Nike
Ackman has a history of investing in Nike. In 2016, he took a large stake in the company and pushed for changes, including a new CEO.
Nike's stock has performed well since Ackman's involvement. The stock has more than doubled in value since he first invested in the company.
Analysts Weigh In
Analysts are weighing in on Ackman's latest investment in Nike.
Some analysts are optimistic about the investment, saying that it is a sign of confidence in the company.
Other analysts are more cautious, saying that it is too early to tell what impact Ackman's investment will have on the company.
Time Will Tell
Only time will tell what impact Ackman's latest investment in Nike will have on the company.
However, his track record with the company suggests that he is a savvy investor who knows how to make money.
Comments