Hedge fund titan Bill Ackman purchased two million more shares of Valeant Pharmaceuticals today amid the stock’s decline, CNBC’s Scott Wapner reports.
The stock was last down 15.7% at about $US123.69 per share.
Ackman told CNBC that he has not sold a single share.
With the increased position, Ackman’s Pershing Square Capital Management now owns 21,473,933 shares of Valeant.
Ackman publicly disclosed his position in Valeant on March 17, when the share price was $US200 per share. At that share price, the position was worth $US3.9 billion.
His stake is now worth about $US2.5 billion with his increased stake.
Business Insider Emails & Alerts
Site highlights each day to your inbox.