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President-elect Donald Trump, after ringing the opening bell at the New York Stock Exchange, refrained from making stock market predictions, citing the potential for a market dip. He emphasized plans to cut taxes further, aiming to incentivize domestic production, while expressing a long-term bullish outlook for the U.S. economy. Wall Street leaders echoed his sentiments, linking business success to broader economic growth and job creation.
Bill Ackman's hedge fund, Pershing Square, is struggling due to a significant investment in Universal Music Group, which has declined approximately 14% this year. Despite a strong overall market, the fund's performance is hindered, marking its second-worst year since 2018. Ackman proposed moving Universal's listing to the U.S. to boost its stock price, but the company denied his claims of having the right to enforce such a change.
Bill Ackman has listed two Central Park West apartments for a combined price of $19.9 million, seven years after acquiring them for $22 million. The 3,000-square-foot units, located in the luxury co-operative building Beresford on West 81st Street, are available separately but share a landing and can be combined.
Argentine fintech company Ualá has secured $300 million in a Series E funding round, achieving a valuation of $2.75 billion. The round was led by Allianz X, marking its first investment in Latin America, with participation from notable investors including Stone Ridge Holdings Group and Bill Ackman’s Pershing Square Holdings.
Universal Music Group NV has rejected Bill Ackman's claim that his Pershing Square fund can force the company to relocate its domicile to the US or delist from Euronext Amsterdam. Ackman asserted a "contractual right" to initiate the move, coinciding with his push to delist Pershing Square Holdings from Euronext due to recent antisemitic incidents in Amsterdam.
Universal Music Group will relocate its primary stock exchange listing to the U.S. in 2025, as announced by Bill Ackman at the Delivering Alpha conference. This decision follows recent antisemitic attacks in Amsterdam and aims to enhance liquidity and valuation, given UMG's current market value of approximately $46 billion. Ackman, the largest shareholder, holds the right to force the relisting, which is expected to occur within 120 days of his demand.
Bill Ackman announced plans to seek board approval for removing Pershing Square Holdings Ltd.'s listing from Euronext in Amsterdam. He noted that the majority of the firm's trading volume now takes place on the London Stock Exchange.
David Einhorn of Greenlight Capital believes Peloton's stock could rise to $31.50 per share if the company successfully implements cost-cutting measures, potentially doubling its adjusted EBITDA. Despite challenges, Peloton's high-margin subscription model and loyal customer base position it for recovery, with projected EBITDA of $400-$500 million if management aligns costs with industry benchmarks. Einhorn emphasizes the need for new leadership to achieve these goals.

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