Nike Stock Sprints Higher After The Bell As Bill Ackman's Pershing Square Reveals New Stake
Portfolio Pulse from Adam Eckert
Nike Inc (NYSE:NKE) shares surged in after-hours trading following the disclosure that Bill Ackman's Pershing Square has acquired a new stake in the company. Pershing Square now owns approximately 3.04 million shares of Nike, valued at around $230 million. This move comes amid speculation that Nike could be a target for activist investors, with unconfirmed reports suggesting former Deckers CEO Dave Powers might take over at Nike.
August 14, 2024 | 9:08 pm
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NEUTRAL IMPACT
Analysts at Gordon Haskett suggested that Nike could be the next target for activist investors following a CEO change at Starbucks, which led to a surge in Starbucks shares.
While the mention of Starbucks is relevant in the context of activist investor speculation, it does not have a direct impact on Starbucks' stock price in the short term.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
POSITIVE IMPACT
Nike shares surged in after-hours trading after Pershing Square disclosed a new stake in the company, owning approximately 3.04 million shares worth $230 million. This has fueled speculation about potential activist investor moves.
The acquisition of a significant stake by a well-known hedge fund like Pershing Square is a strong positive signal for investors. The speculation about potential activist investor moves adds to the bullish sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100