This Investor Just Took a Stake in Nike

Nike, the “Just do It” company has caught the attention of Pershing Square Capital Management’s Bill Ackman.

The famed investor has taken a passive stake in the company according to a source familiar with the situation.

The person however assured that the stake that he has built up is passive unlike other activist campaigns Ackman has engaged in. Ackman is known for pressuring company executives for changes.

Since the end of September, shares of the athletic apparel and shoe company have gained 30%.

It’s been reported as well from a source familiar with the matter this week that Ackman is slashing about 10 employees from his firm.

Reuters also reported earlier in the week that Ackman will be leaving the marketing of the firm and leaving it to other partners. The firm has been seeing losses for three years and oversees about $9 billion for its clients.

Disclaimer: We have no position in Nike Inc. (NYSE: NKE) and have not been compensated for this article.