Uber (NYSE: UBER) got a huge new investor last week when hedge fund manager Bill Ackman announced a $2.3 billion stake in the company. Ackman is known as a long-term investor willing to bet big on concentrated ideas,

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Uber stock hit its highest level since October after Ackman disclosed his Pershing Square hedge fund accumulated a 1.4% stake in the ride hailer.

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,

Uber’s stock extends its surge as hedge funder Ackman says he’s amassed a 30.3-million-share stake since early January.

Go big or go home. Billionaire investor Bill Ackman of Pershing Square Capital Management takes that sentiment to heart. His hedge fund has some $13 billion in assets under management, but he owns just 10 stocks (track his portfolio here),

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