Starbucks Spikes After Hedge-Fund Billionaire Bill Ackman Discloses a Stake in the Company
- Bill Ackman, the billionaire founder of Pershing Square Capital Management, disclosed a stake in Starbucks on Tuesday, according to multiple reports.
- Starbucks shares jumped by as much as 5% following the news.
- In August, Ackman said he had bought shares of an undisclosed company worth $800 million.
- Watch Starbucks trade in real time here.
Starbucks shares jumped by as much as 5% Tuesday on news that the hedge-fund billionaire Bill Ackman had bought a stake in the coffee retailer...