Published by Global Banking & Finance Review®
Posted on February 7, 2025
2 min readLast updated: January 26, 2026
Add as preferred source on Google
Uber shares surged to a three-month high after Bill Ackman invested $2.3 billion. The company's market cap hit $161 billion, with a 20% revenue increase in Q4.
By Chibuike Oguh
NEW YORK (Reuters) -Shares of Uber Technologies jumped to a three-month high on Friday after billionaire hedge fund manager Bill Ackman announced that he had taken a stake worth about $2.3 billion in the ride-sharing platform.
In a post on social media platform X, Ackman said he began acquiring a stake in Uber in early January and now owns 30.3 million shares in the company.
"While a great business, Uber suffered from erratic management," said Ackman, who is the founder and chief executive of New York-based Pershing Square Capital Management.
"Since he joined the company in 2017, Dara Khosrowshahi (Uber) CEO has done a superb job in transforming the company into a highly profitable and cash-generative growth machine."
Uber shares jumped nearly 10% to as high as $76.76, the highest level since October 30, giving it a market capitalization of about $161 billion. The company's shares have gained nearly 26% so far this year. It lost 2% in 2024.
Earlier this week, Uber beat estimates with a 20% jump in fourth quarter revenue to $11.96 billion. Its adjusted net profit of 23 cents, however, missed analyst expectations of 50 cents, according to LSEG data.
(Reporting by Chibuike Oguh in New York; Editing by Nia Williams and Nick Zieminski)
The main topic is Uber's stock surge following Bill Ackman's $2 billion investment.
Bill Ackman is a billionaire hedge fund manager and the founder of Pershing Square Capital Management.
Uber's Q4 revenue rose by 20% to $11.96 billion, but its adjusted net profit missed expectations.
Explore more articles in the Finance category
