Bill Ackman says Alphabet stake sale not a bet against the company

Microsoft Corporation
Alphabet Inc. Class A
Pershing Square USA, Ltd.

Microsoft Corporation

MSFT

0.00

Alphabet Inc. Class A

GOOGL

0.00

Pershing Square USA, Ltd.

PSUS

0.00

May 16 (Reuters) - Billionaire investor Bill Ackman said on Saturday that the sale of Google parent Alphabet's GOOGL.O shares was not a bet against the company.

Ackman on Friday said his firm Pershing Square had built a new position in tech giant Microsoft MSFT.O after its stock price dropped recently, and sold his long-owned investment in Alphabet to help pay for it.

"To be clear, our sale of Google was not a bet against the company. We are very bullish long term on Alphabet. But at current valuations and in light of our finite capital base, we used as a source of funds for Microsoft," Ackman wrote on X on Saturday.


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