Bill Ackman can’t catch a break on his Chipotle Mexican Grill Inc. investment.
Since the billionaire activist disclosed a position in the burrito chain last year, it’s been hit by an norovirus scare and rodents falling from the ceiling.
The latest quarter brought more woes: high avocado prices, hurricanes and the bill for a hacking attack.
After terrible results late Tuesday sent shares tumbling, Ackman lost about $120 million on his stake overnight, according to data compiled by Bloomberg.
Ackman’s Pershing Square Capital Management took an initial stake in Chipotle worth about $1.17 billion, according to regulatory filings. Shares in the company are down about 14 percent Wednesday, valuing Ackman’s stake, on paper, at about $360 million less than he paid for it just over a year ago.
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