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Hedge Funds

Chipotle Stock Gives Bill Ackman, Stung By Herbalife, A Boost

by fortune.com posted 10months ago 29 views
As shares soar on higher sales. : It’s been a rough year for hedge fund titan Bill Ackman, whose firm Pershing Square has suffered three straight years of losses partly due to bad, high-profile bets on Valeant and Herbalife. But now that Chipotle’s stock has jumped 24% on Tuesday thanks to increased revenue and investor confidence in the company’s new CEO—there is something for Pershing to be relieved about. The rise in the Mexican fast-casual chains shares to $425 mean that Ackman’s near-10% stake in the company is no longer underwater.

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