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Story summary
- Ackman invested about $2 billion in Meta Platforms, Inc. (Meta).
- The investment represents about 10% of Pershing Square Capital Management.
- The move began in late November.
- Meta's stock has traded around $670 per share and is down about 16% over the past year.
- Pershing Square argues the market underestimates Meta's core advertising engine and its AI-driven growth potential.
