Billionaire Bill Ackman appears to be taking a page from Elon Musk with plans to start announcing market-moving news on Twitter.
The billionaire investor’s blank check company, Pershing Square Tontine Holdings, issued a press release on Friday highlighting Ackman’s Twitter feed and saying it may be used as a venue for official announcements.
“Investors should follow this account for information about the company,” the release said.
Ackman’s #FollowFriday campaign comes as retail traders wage their second campaign on “meme stocks” like GameStop, prizing sentiment and social media posts over fundamentals and pumping so-called “stonks” unloved by mainstream Wall Street investors.
Ackman was up late Thursday night engaging with Twitter users who asked him about a second Pershing Square blank check company, aslo known as a SPAC. His terse answers thrilled some followers who seemed to read into the ambiguous responses.
When asked if investors in the first SPAC could be given priority to invest in the second, Ackman tweeted “We have the technology” leading users on Twitter and Reddit to proclaim that Ackman was about to acquire payment platforms Stripe, Plaid, or even trading app Robinhood, with dozens of users posting that Ackman’s tweets indicate he would announce a merger on Friday, on Twitter.
Despite Ackman appearing to have gained more than 1,000 new followers in a matter of hours, shares in Pershing Square Tontine were trading slightly down at midday after spiking in early trading.