Bill Ackman’s Pershing Square Acquires Major Stake in Nike

Nike shares surge as Ackman’s firm makes its first new investment in over a year, amidst declining sales and increased competition.

Pershing Square Capital Management acquired over 3 million shares of Nike, valued at approximately $230 million.
Nike's stock rose by 4% in premarket trading following the announcement of Ackman's investment.
The sportswear giant has faced falling sales due to a slowing Chinese economy and competition from brands like Hoka.
This marks Ackman’s return to Nike after a profitable investment in the company in 2017.
Ackman’s firm also invested in Brookfield and reduced its holdings in Chipotle and Alphabet.