Opinions
Jim Cramer - Mad Money
Pershing Square Tontine Holdings
PSTH-N
WEAK BUY
Mar 26, 2021
Bill Ackman is very aligned with the shareholders, including putting a lot of money into PSTH, and he's positive about this.
$24.430
Stock price when the opinion was issued
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To illustrate, in 2016, SPACs raised $3.2 billion (all figures in USD). Last July, Bill Pershing sponsored his own SPAC, Pershing Square Tontine Holdings, which raised $4 billion alone. PSTH-N has tumbled from its mid-February peak of $34.10 and is trading around $24, though it popped to $25 Monday. However, PSTH has yet to acquire a company and is keeping Wall Street in suspense. However, even the track record of billionaire investor Pershing cannot sustain the share price. Those who believe in Pershing have already bought in, but the rest of it may want to watch from the sidelines until he reveals his target company or industry and any shred of information.
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