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Bill Ackman Discloses Over $2 Billion Investment in Uber

Bill Ackman disclosed that his fund, Pershing Square Capital Management, has acquired a stake in Uber worth over $2 billion. Following Ackman's announcement, Uber's shares surged by almost 9%, contributing to a total increase of around 17% for the week. Ackman praised Uber as one of the best-managed companies, highlighting its current undervaluation relative to its intrinsic worth. Despite Uber's recent earnings report failing to meet analysts' expectations, they acknowledged the company's stronger-than-anticipated revenue and bookings.