Activist billionaire investor Bill Ackman revealed a $2.3 billion investment in Uber Technologies (UBER) last week. It quickly erased all the doubts the market had about the ride-share leader’s recent earnings report as shares of UBER stock are up 20% since Ackman’s stake was revealed.
Yet Uber still faces a challenging future as its autonomous vehicle plans are going slower than expected, which was what sent its stock down in the first place. Ackman obviously sees something beyond those concerns, so let’s see what that might be.
This post originally appeared at Money Morning.