Billionaire Bill Ackman, the CEO of Pershing Square Capital Management, is known for investing in cash-flowing consumer stocks and making contrarian bets.

Uber Technologies is enjoying strong gross bookings growth, with mobility and delivery both rising 18% from last year. The ride-share leader is guiding Q1 2025 bookings to continue increasing by 17% to 19%, a range that implies $42 billion to $43.5 billion in gross bookings.

Last week, the stock of Uber Technologies went on a wild ride, falling hard after Uber reported earnings on Feb. 5, only to rocket higher toward the end of the week. On earnings, while revenue and earnings per share actually beat expectations,