Investing.com -- Shares of Hertz (NASDAQ: HTZ) soared 20% following the news that Bill Ackman’s Pershing Square Capital Management disclosed a significant stake in the car rental company. The hedge fund revealed ownership of 12.7 million shares in an amended 13F filing, representing an investment worth approximately $46.5 million.The surge in stock price comes as investors react to Pershing Squa ...
Investing.com -- Shares of ride-hailing company Lyft (NASDAQ:LYFT) increased by 2.4% to $11.2 in premarket trading. The increase comes as Lyft plans to acquire mobility platform FreeNow from German automotive heavyweights BMW (ETR:BMWG) and Mercedes-Benz (OTC:MBGAF). The acquisition, costing 175 million euros ($198.40 million), is part of Lyft’s broader strategy to expand into the European rid ...
Investing.com -- Shares in car rental company Hertz have seen a significant rise, extending gains to 29%, following the disclosure of a new stake by Pershing Square Capital Management. The hedge fund has revealed a purchase of 12.7 million shares in Hertz, which has a value of approximately $46.5 million.This news has had a positive impact on Hertz’s stock performance, with a more than 21% incre ...
Investing.com - Lyft (NASDAQ:LYFT) has agreed to acquire mobility app FreeNow for 175 million euros as part of a bid by the taxi service to expand its presence in Europe.The move comes as Lyft looks to harness new revenues sources in the face of intense competition in the U.S. with rival Uber Technologies (NYSE:UBER).In a statement, Lyft said the transaction, which was worth roughly $197 mi ...