Overview

• 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.