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Hedge Funds

Starbucks Stock May Not Double In 3 Years, But Bill Ackman Just Made A Good Bet

by foxbusiness.com posted 11months ago 30 views
A famous hedge fund manager has made a big bet on Starbucks stock. : Shares of Starbucks (NASDAQ: SBUX) surged earlier this week, after activist investor Bill Ackman touted the Seattle-based coffee titan at an investment conference. Ackman's Pershing Square hedge fund recently accumulated a roughly 1.1% stake in the company, currently worth more than $800 million. In his recent presentation, Ackman predicted that Starbucks stock could roughly double within three years. That projection is probably too ambitious. Nevertheless, the shares do have a ton of upside, particularly for long-term investors.

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