Ackman’s Starbucks Bet Fuels July Gains

Pershing Square Holdings continues its big surge.

Bill Ackman (Christopher Goodney/Bloomberg)

Bill Ackman

(Christopher Goodney/Bloomberg)

When Bill Ackman made his big bet on espresso chain Starbucks last fall, he called it a “doppio.” But the service was much faster than even he expected.

Ackman estimated that Starbucks’ stock price would hit $93 in three years — almost double what he paid for it.

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