Since July, I haven’t written about Pershing Square Tontine Holdings (NYSE:PSTH) stock. At the time, it was trying to stickhandle its way through a tricky investment in Universal Music Group (OTCMKTS:UMGNF). Source: Dmitry Demidovich/ShutterStock.com That deal never happened. The SEC turned the deal down. As a result, Bill Ackman’s Pershing Square bought 10% of Universal…

Editor’s Note: Following publication of this article, Pershing Square Tontine Holdings announced that its board unanimously determined not to proceed with the Universal Music Group transaction. InvestorPlace will update readers as there are further developments on the company. When I last wrote about Pershing Square Tontine Holdings (NYSE:PSTH) in April, I felt that the only way…