Pershing Square Buys Amazon Stake After 31% Stock Price Drop
(Eduardo Munoz Alvarez/Associated Press)
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Bill Ackman’s Pershing Square Capital Management built a new stake in Amazon.com Inc., calling it a “fantastic franchise” and noting that the investor acquired shares at an “extremely attractive” price.
Pershing Square bought the stock after it tumbled more than 30% earlier this year, the result of concerns over the generative AI boom and U.S. tariffs, Ryan Israel, the firm’s chief investment officer, said in a call with analysts May 22.
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