Universal Music Stock Drops After Bill Ackman’s Hedge Fund Cuts Stake
In This Article:
Universal Music stock fell after hedge-fund billionaire Bill Ackman said Pershing Square is cutting its stake in the world’s largest record label. Shares in the label behind Taylor Swift (NL:UMG) were down 8.7% at 25.46 euros in the Netherlands. Ackman said Pershing had decided to sell part of its position in Universal, in a post on X on Thursday.
Terms and Privacy Policy