Is Pershing Square Tontine Holdings (PSTH) a Smart Long-term Buy?

Clark Street Value is bullish on Pershing Square Tontine Holdings Ltd. (NYSE:PSTH) stock. Clark Street Value is an individual investor that is focused on finding value and special situation investments. Pershing Square Tontine Holdings Ltd. (NYSE:PSTH) is a newly organized blank check company formed for the purpose of effecting a merger. In the last three months, Pershing Square Tontine Holdings Ltd. (NYSE:PSTH) stock gained 18.7% and on January 4th it had a closing price of $26.92.

Clark Street Value said that the downside is limited for Pershing Square Tontine Holdings Ltd. (NYSE:PSTH) stock. The investor believes that if the deal is announced in the next few months than the transaction would close before mid-June 2021. Clark Street Value added “Ackman will get on TV, etc., and he’ll also be investing a significant sum alongside PSTH in a pre-committed PIPE at $20 further providing support to the transaction value. Selling pre-deal SPAC call options might be a theme for me next year.”

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Our calculations showed that Pershing Square Tontine Holdings Ltd. (NYSE:PSTH) isn’t ranked among the 30 most popular stocks among hedge funds.

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Video: Top 5 Stocks Among Hedge Funds

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Disclosure: None. This article is originally published at Insider Monkey.