Investing Pioneers
SUBSCRIBE NOW
  • Wall Street Word
  • Whale Tracker
  • Stocks
  • Gold
  • Crypto
  • Economy
No Result
View All Result
  • Wall Street Word
  • Whale Tracker
  • Stocks
  • Gold
  • Crypto
  • Economy
No Result
View All Result
Investing Pioneers
No Result
View All Result

Bill Ackman’s Pershing Square Sinks 4.7% In July, Dashing 2024 Gains

in Wall Street Word
0
0
SHARES
274
VIEWS
Share on FacebookShare on Twitter

Bill Ackman‘s primary hedge fund wiped out most of its 2024 gains during late July, adding to the billionaire’s troubles after he withdrew his IPO for a US-traded closed-end fund this week due to weak demand.

Pershing Square Holdings had gained 8.7% by mid-July but lost 4.7% in the latter half of the month, leaving it with a year-to-date gain of just 0.7%, reported Bloomberg.

A major factor in the decline was Pershing Square’s investment in Universal Music Group (OTC:UMGNF), whose shares fell 24% following disappointing earnings last week.

Meanwhile, Ackman’s ambitious plan to launch a new investment fund on the New York Stock Exchange has faltered, added Bloomberg.

Also Read: As Bill Ackman’s Pershing Square Struggles To Reach IPO Stage, Major Hedge Fund Opts Out Investing In Upcoming Fund: Report

Ackman spent recent weeks promoting his U.S.-traded closed-end fund, initially projected to raise $25 billion, but withdrew the deal on July 31 after only $2 billion in interest.

Earlier this week, Pershing Square decided to withdraw the IPO entirely.

Ackman acknowledged that a key concern was whether investors would be better off waiting to invest in the aftermarket rather than during the IPO.

This led to a decision to reevaluate the IPO’s structure, with plans to return with a revised proposal according to CNBC.

Through July, the S&P 500 Index had risen by 15.8% for the year.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Read Next:

  • Bill Ackman Hits Pause On Pershing Square IPO After Investors Hesitate

Image created using artificial intelligence via Midjourney.

Previous Post

Trump Returns To Georgia: Battleground Becomes Key Focus As Presidential Race Tightens

Next Post

Trump Shooting Security Failure: Separate Command Posts And Radio Traffic Gap Hampered Secret Service Response

Next Post

Trump Shooting Security Failure: Separate Command Posts And Radio Traffic Gap Hampered Secret Service Response

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent News

Telegram CEO’s Unconventional Wealth Plan for Heirs

June 22, 2025

Future Tech Giants You Didn’t Expect

June 22, 2025

Investor Profits Soar on Record-Breaking Land Sale

June 22, 2025

Kevin O’Leary Highlights Growing Concern Over 401(k) Contributions Amid Rising Household Debt

June 22, 2025

Browse by Category

  • Artificial Intelligence
  • Business
  • Crypto
  • Economy
  • Gold
  • In Partnership with Preserve Gold
  • Partnership with InvestorPlace
  • Partnership with The Oxford Club
  • Personal Finance
  • Real Estate
  • Sponsored
  • Stocks
  • Tech
  • Wall Street Word
  • Whale Tracker

Recent News

Telegram CEO’s Unconventional Wealth Plan for Heirs

June 22, 2025

Future Tech Giants You Didn’t Expect

June 22, 2025
  • Privacy Policy
  • Terms of Use
  • CCPA Privacy Notice
  • SMS Terms

© 2025 - InvestingPioneers.com.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Wall Street Word
  • Whale Tracker
  • Stocks
  • Gold
  • Crypto
  • Economy

© 2025 - InvestingPioneers.com.