Bill Ekman, CEO of Pursing Square Capital Management
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Bill Ackman, a billionaire hedge-fund giant, was asked on Thursday if the nasty market route, which pulled the tech-heavy Nasdaq composite down 5%, is dark in root stocks.
The answer was no. Also, maybe.
“
‘It’s certainly not the beginning of the end, but I would say we are coming to a more indefinite period in American history. Markets do not like uncertainty. ‘
”
Pursing Square Capital CEO Explained in an interview with Bloomberg TV The next presidential election and that U.S. There will be more uncertainty in the coming weeks and months.
Most notably, their “exceptional” valuations in tech stocks may be weak. Apple Pal AAPL,
And Tesla TSLA,
Coronavirus has become one of the major leaders in the market boom since the initial dip in response to the epidemic. But on Thursday, both were hit hard.
While the broad decline was certainly steep, ck Kamen said it shouldn’t come as a surprise considering how “significantly stronger” stocks have remained since the crush in March.
Dow Jones Industrial Average DJIA,
The session ended at its lowest point but still finished with more than 800 points. S&P 500 SPX,
With a decline of 125 points, while the Nasdaq Composite COP,
Gave 598 points.
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