Billionaire Bill Ackman Has Been All-In on Uber. Is Now the Time to Buy the Stock?
Uber is Bill Ackman's largest position.
Bill Ackman, a prominent investor, has increased his stake in Uber, reporting it as his largest position. Despite a 25% decline in Uber's stock over the past year, Ackman remains bullish on the company, citing its strong management and potential for operating leverage and higher profits. In the most recent quarter, Uber reported a 10% year-over-year revenue growth to $14.77 billion and robust gross bookings across its segments, including mobility and delivery.
The company expects autonomous vehicle integration to have a limited impact on its business, as it continues to deliver strong growth and operating leverage. With a favorable valuation and a dominant position in the market, Uber is considered a promising investment by many, including Ackman.
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