Uber Technologies stock is trading at a “massive discount,” Bill Ackman said Friday as he revealed that his hedge fund had established a significant stake in the ride-hailing company. In a post on X,

Bill Ackman’s hedge fund Pershing Square Capital Management owns 30.3 million shares of Uber Technologies Inc., the billionaire investor disclosed on Friday. The firm began building a position in Uber in early January,

Uber stock hit its highest level since October after Ackman disclosed his Pershing Square hedge fund accumulated a 1.4% stake in the ride hailer.