Reported about 2 months ago
Nike Inc. stocks saw a boost in late trading after Pershing Square Capital Management, led by Bill Ackman, revealed it holds approximately 3 million shares in the company. This disclosure comes amid Nike's efforts to overcome a decline in sales and follows Ackman's previous approach of a quieter engagement with management. The announcement has contributed to a 5.5% increase in Nike's stock, despite the stock having fallen nearly 28% this year.
Source: YAHOO