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Investing.com -- Shares of Howard Hughes (NYSE:HHH) Holdings climbed 5% in Tuesday afternoon trading after Bill Ackman, a prominent investor known for his activist stake-building, teased on X about potential transaction that could reshape his Pershing Square hedge fund into a diversified holding firm akin to Warren Buffett’s legendary Berkshire Hathaway (NYSE:BRKa).
In a post earlier today, Ackman hinted at an upcoming announcement scheduled for 4pm, which, if realized, would mark the start of his ambition to build a modern-day counterpart to Berkshire. Ackman’s firm, starting not with a struggling textile business as Buffett did, but with a "very good business," aims to adopt the same long-term, shareholder-oriented approach and intends to "hold the stock forever."
Ackman’s message to potential investors was clear: this is an opportunity to join in a partnership that draws inspiration from one of the greatest investment stories. He also extended an invitation to participate in a presentation and subsequent Q&A session tomorrow morning, to further discuss the plans and field questions.
The market’s positive response to Ackman’s announcement reflects investor enthusiasm for his vision of creating a company that follows the principles and success of Berkshire Hathaway. While details of the potential transaction remain undisclosed until the 4pm announcement, investors appear optimistic about the prospects of Howard Hughes Holdings under Ackman’s proposed strategy.
The anticipation surrounding this announcement has evidently struck a chord with the market, as evidenced by the uptick in Howard Hughes Holdings’ stock. Investors will be keenly awaiting further details to assess the full implications of Ackman’s plans for the company’s future.
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