Diamonds and Dogs

2/7/25

Uber (UBER) rebounding after disappointing earnings earlier in the week. Uber is jumping today on news billionaire, Bill Ackman and his Pershing Square firm has bought over 30 million shares or over 1% of the outstanding shares in the open market saying it's one of the best managed and highest quality businesses in the world with a stock trading at a massive discount to its intrinsic value according to Ackman.

Good new bad news. The good news is Japanese firm, Nippon Steel will no longer try and buy US Steel (X). US Steel is down 6% as President Trump met with the leader of Japan. President Trump has convinced Nippon Steel to instead invest in US Steel. If they buy the stock, they are getting a cheaper price today.

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