Meta Stock Jumps as Billionaire Bill Ackman Dumps Alphabet and Loads Up On Meta Stock in Q2

Tiger Newspress

3 hours ago

Bill Ackman runs Pershing Square Capital Management, and the investment firm made some interesting investment moves this year. During Q2, Ackman sold off the remainder of Pershing Square's Alphabet stake. This was after buying into Alphabet in Q1. Considering how successful an investment Alphabet has been over the past year and how rapidly it's growing thanks to its artificial intelligence (AI)-related efforts, this move is a bit of a head-scratcher.

However, Ackman didn't sit idle with his money. Instead, he purchased shares of another AI-related tech giant trading down about 15% from its peak: Meta Platforms. Shares of Meta jumped over 2% on the news.

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