Billionaire Bill Ackman bets against Tesla with new position in transportation company

Billionaire investor Bill Ackman’s fund, Pershing Square Capital Management, does not own Tesla and is not shorting the stock. However, Pershing recently acquired a large position in a transportation company that is in contrast with Tesla’s business. Ackman’s fund tends to have a long position in stocks, and the new position is essentially a bet against Tesla at the moment.

Robotaxis with full self-driving capabilities are starting to appear in major cities, signaling the beginning of a potential revolution in transportation. Tesla is at the forefront of this revolution, having recently launched its first autonomous robotaxis in Austin, Texas. This move could impact the ride-hailing industry, with Tesla aiming to create a competitive robotaxi fleet.

Pershing Square Capital Management, owned by Bill Ackman, acquired a significant stake in ride-hailing giant Uber earlier this year. This investment positions Pershing Square Capital Management as a major player in the transportation industry, with Uber being a key player in the autonomous vehicle market. Both Tesla and Uber are betting on robotaxis for their future business growth.

Tesla and Uber are currently seen as competitors in the robotaxi space, with both companies vying for a dominant position in the market. While Tesla envisions a scenario where its fleet of vehicles can serve as robotaxis, Uber is building a network of partners to launch autonomous vehicles. Investors are closely watching how these two companies will compete and collaborate in the evolving transportation industry.

Investors considering Uber Technologies should be aware of potential competition from Tesla in the robotaxi space. The Motley Fool Stock Advisor analyst team has identified 10 stocks they believe offer strong investment opportunities, but Uber Technologies is not among them. With Tesla trading at a high valuation compared to Uber, investors should carefully evaluate the growth potential of both companies in the autonomous vehicle market.

Read more at Nasdaq: Billionaire Investor Bill Ackman Is Betting Against Tesla — At Least for Now