Nike stock pops as Pershing Square reveals new stake

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Nike's (NKE) stock is rallying in Wednesday's after-hours trading following news that billionaire investor Bill Ackman's Pershing Square Capital Management has taken a new stake in the athletic apparel giant. A 13-F filing revealed that Pershing Square has acquired approximately 3 million shares, valued at around $229 million.

Market Domination Overtime co-hosts Julie Hyman and Josh Schafer break down the details of this investment and its potential implications for Nike.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Angel Smith