Billionaire investor Bill Ackman of Pershing Square Capital Management recently revealed he has invested $2.3 billion in Uber Technologies, acquiring 30.3 million shares. Despite Uber's strong bookings growth, with its Q4 figures hitting $44.2 billion, the stock faced downward pressure after the company issued less-than-expected Q1 earnings guidance. Ackman sees Uber as one of the best-managed companies available at a substantial discount to its intrinsic value, underscoring its potential as a strong long-term investment.
In a post on X, Ackman wrote, 'We believe that Uber is one of the best managed and highest quality businesses in the world. Remarkably, it can still be purchased at a massive discount to its intrinsic value.'
Uber Technologies bookings are rising smartly. Similar to revenue, but different, Uber's gross bookings in Q4 were up 18% to $44.2 billion, the midpoint of management's guidance in the third quarter.
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