Markets

Billionaire Bill Ackman’s blank-check company pops 9% in its trading debut

Bill Ackman’s blank-check company, Pershing Square Tontine Holdings, started trading Wednesday on the New York Stock Exchange under the ticker “PSTH.” The company popped as much as 9% in its trading debut. “What’s new in our structure is it’s the first SPAC where we’re taking no compensation,” Ackman told CNBC […]
Billionaire Bill Ackman’s blank-check company pops 9% in its trading debut
Markets

Billionaire Bill Ackman details a $2 billion bet he just made that coronavirus will be a ‘temporary but massive economic shock’

Bill Ackman, the billionaire investor and manager of Pershing Capital Square Management, said that as of March 23, the firm removed all of its hedges betting against the market in a Wednesday letter to investors. That generated $US2.6 billion in proceeds, compared with premiums and commissions of $US27 million. “Substantially […]
Billionaire Bill Ackman details a $2 billion bet he just made that coronavirus will be a ‘temporary but massive economic shock’