Last week, the stock of Uber Technologies went on a wild ride, falling hard after Uber reported earnings on Feb. 5, only to rocket higher toward the end of the week. On earnings, while revenue and earnings per share actually beat expectations,

Billionaire investor Bill Ackman's Pershing Square Capital acquired a $2.3 billion stake in Uber by purchasing 30.3 million shares. Ackman has praised Uber's CEO for transforming the company and also claimed that the company has more scope for growth.

Uber stock hit its highest level since October after Ackman disclosed his Pershing Square hedge fund accumulated a 1.4% stake in the ride hailer.

Bill Ackman is one of the most widely followed investment managers in the world. He's in charge of Pershing Square Capital, a hedge fund focused on investing in just a handful of Ackman's best ideas. His highly concentrated portfolio is full of great companies, but he might have just made one stock the biggest holding at Pershing Square.

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Uber’s stock extends its surge as hedge funder Ackman says he’s amassed a 30.3-million-share stake since early January.

The Pershing Square CEO said he's admired the ridesharing giant since actor Edward Norton introduced him to the app in its early days.

Billionaire Bill Ackman has accumulated $2 billion in Uber stock in his Pershing Square hedge fund since early January. Uber's strong presence in ride-sharing and food delivery creates adjacent opportunities in autonomous driving and advertising.