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Bill Ackman says Pershing Square USA stock move is 'frankly absurd'
The Wall Street Journal Markets reports that billionaire investor Bill Ackman criticized the performance of his newly launched fund, Pershing Square USA, saying the stock price decline is “frankly absurd.”
According to the report, the portfolio has lagged the broader market since Ackman took control of the fund, and the issue has drawn attention since Pershing Square USA and Pershing Square Holdings began trading publicly in April.
WSJ Markets also notes that Ackman’s firm went public in April, and since then the fund’s stock move has continued to trail overall market performance.
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