Recent breaking news gave Uber (NYSE: UBER) investors a welcome boost as the stock swung into positive territory over the past year. The ride-hailing giant, which had significantly underperformed over the previous year, surged 6.59% on Friday and over 11% for the week following its Q4 2024 earnings report. However, what truly drove the stock’s sharp rally was not its earnings. It was a revelation from famed investor Bill Ackman.
The billionaire hedge fund manager and founder of Pershing Square took to X (formerly Twitter) to announce that his firm had built a significant position in Uber, which sparked renewed investor enthusiasm. Given Uber’s recent struggles, should investors consider following Ackman’s lead despite its lagging performance relative to the broader market over the past year?
