FMCC - Pershing Square Tontine stock dips as Bill Ackman offers no news on target

Pershing Square Tontine Holdings (PSTH) stock drops 4.5% after Bill Ackman has no news to report on the SPAC's acquisition target during Pershing Square Holdings' (PSHZF) annual virtual presentation to shareholders.Investors are eagerly awaiting an announcement on what business PSTH will acquire and as a result its stock has climbed ~38% since the SPAC started trading in September. "The prize is a big one," Ackman said on the call, according to those who tweeted out updates."I'm spending substantially all of my time, along with more than half the investment team, working on Pershing Square Tontine Holdings," Ackman said on the call.PSTH has $5B-$7B of equity capital, Pershing Square Holdings disclosed in its slides.Ackman said the firm's next investment announcement will likely be on PSTH.Pershing Square Holdings ("PSH"), the publicly traded part of Ackman's businesses, tells shareholders its stock's discount to net asset value narrows to 23% as of Feb. 16, 2021 from almost 29% at

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Pershing Square Tontine stock dips as Bill Ackman offers no news on target