Bill Ackman’s Pershing Square Capital Management Sold Alphabet and Bought These 2 Beaten-Down Stocks
Key PointsPershing Square Capital Management closed its position in the high-flying tech leader, Alphabet, during the second quarter.
Bill Ackman, CEO of Pershing Square Capital Management, made headlines in the second quarter by selling Alphabet stock and investing in Meta Platforms and Netflix. Despite Alphabet's strong performance, Ackman chose to divest from the tech giant and instead increased his stake in Meta and initiated a position in Netflix. Both of these beaten-down stocks have significantly underperformed the broader market over the past year, making them attractive targets for the savvy investor.
Ackman's decision to go against the crowd and invest in these underdog stocks may prove to be a wise move, as Meta and Netflix both show promise in the current market landscape.
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