Bill Ackman Files For Activist Stake In JCPenney, But The Stock Shot Up YESTERDAY

Bill Ackman

Bill Ackman‘s Pershing Square just filed for an activist stake in JCPenney and the stock is already shooting up.

Actually, it shot up on large volume before yesterday’s close. Someone knew something (see chart below).

Ackman runs Pershing Square as an activist hedge fund, meaning he invests in very few companies that he plans to “actively” change from the inside, by getting a seat on the company’s board.

So far investors are confident about Ackman’s plans for JCPenney.

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Via Street Insider

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