Finance
Starbucks spikes on report Bill Ackman adds to stake in the company
Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management.Reuters / Richard Brian
Starbucks shares jumped by as much as 5% Tuesday on news that the hedge-fund billionaire Bill Ackman added to his stake in the coffee retailer.
According to CNBC’s Leslie Picker, Ackman disclosed the additional stake at a conference in New York. He had previously announced a position in August.
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