Bill Ackman’s ‘People’s Hedge Fund’ Drops 18% on Its First Day of Trading

Bill Ackman rang the opening bell at the New York Stock Exchange on Wednesday. By the close of trading, his new fund had lost nearly a fifth of its value. Pershing Square USA (NYSE: PSUS) closed at $40.90 on its NYSE debut, well below the IPO price of $50 — an 18% drop on the […] The post Bill Ackman’s ‘People’s Hedge Fund’ Drops 18% on Its First Day of Trading appeared first on the deep dive.