Chipotle Soars After Bill Ackman Reveals 9.9% Stake, Goes Activist

Many thought that having been squeezed between the terrible performance of his Valeant long and his “career” Herbalife short, that Bill Ackman would quietly fade into the sunset, facilitated by the dreadful YTD performance of his hedge fund. No such luck, and as he revealed moments ago in a 13D filing, the Pershing Square founder has just gone activist on Chipotle, revealing a 9.9% stake, and announcing he intends “to engage in discussions with the Issuer and Issuer’s management and board of directors, other stockholders of the Issuer and other interested partiesthat may relate to the governance and board composition, business, operations, cost structure, management, assets, capitalization, financial condition, strategic plans, and the future of the Issuer.“
From the report:

This post was published at Zero Hedge on Sep 6, 2016.