Reported about 11 hours ago
Billionaire hedge fund manager Bill Ackman has increased his stake in Nike to $1.4 billion despite the company's ongoing struggles, which include a nearly 30% drop in stock price this year. Ackman believes that market volatility creates valuable buying opportunities for long-term investors. His investment firm, Pershing Square Capital Management, has also adjusted its portfolio by increasing holdings in real estate while reducing stakes in companies like Hilton and Restaurant Brands. Nike recently underwent management changes and aims to revitalize its brand, but faces challenges and competition in the market.
Source: YAHOO