Bill Ackman’s Pershing Square invests in Uber, citing undervaluation and growth potential. Read what makes UBER stock an attractive investment.

Hedge fund manager Bill Ackman just disclosed a position in Uber. Bill Ackman is one of the most closely followed investment personalities on Wall Street. As CEO of hedge fund Pershing Square Capital Management, Ackman has been at the center of some creatively structured investments in recent history.

Shares of Uber Technologies jumped to a three-month high on Friday after billionaire hedge fund manager Bill Ackman announced that he had taken a stake worth about $2.3 billion in the ride-sharing platform.

Billionaire Bill Ackman, the CEO of Pershing Square Capital Management, is known for investing in cash-flowing consumer stocks and making contrarian bets. For instance, he invested in Chipotle Mexican Grill in 2016,

Uber (UBER) stock is climbing higher Friday afternoon following billionaire Bill Ackman's disclosure of a significant investment in the rideshare company. In a post on X (formerly Twitter), Ackman revealed that his firm,

This rebound has certainly benefited investors who have continued to accumulate shares of the ride-hailing giant. One of the more notable big-named investors who has touted Uber as a holding worth considering is Bill Ackman.

Uber's stock movement reflects a broader trend where high-profile investments by notable figures can lead to increased investor confidence and share price gains. Ackman's statement that Uber is still available at a "massive discount to its intrinsic value" suggests a promising outlook for the company's future performance.