Bill Ackman 'Absolutely' Keen On Investing Big In Elon Musk's X — But Could It Really Go Through?
Portfolio Pulse from Ramakrishnan M
Bill Ackman's firm, Pershing Square Holdings Ltd (OTC:PSHZF), has obtained regulatory approval for a novel investment vehicle, Pershing Square SPARC Holdings, aimed at investing in privately held companies with the intention of taking them public. Ackman has expressed interest in investing in X, a social media platform owned by Elon Musk. However, the likelihood of such a deal is low due to the platform's declining ad revenues and $13 billion debt under Musk's leadership.
October 02, 2023 | 6:35 am
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Pershing Square's new investment vehicle could open up new investment opportunities, potentially boosting the firm's performance. However, the interest in X, which is currently underperforming, could be a risky move.
The approval of Pershing Square's SPARC could potentially attract more investors, boosting the firm's performance. However, the expressed interest in X, which is currently struggling with declining revenues and high debt, could be seen as a risky move by investors, potentially impacting the firm's stock negatively.
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