Tags: bill ackman | lost | million | stake | chipotle

Bill Ackman Just Lost Another $120 Million on His Stake in Chipotle

Bill Ackman Just Lost Another $120 Million on His Stake in Chipotle
Bigapplestock/Dreamstime

Wednesday, 25 October 2017 11:26 AM

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.

© Copyright 2018 Bloomberg News. All rights reserved.

   
1Like our page
2Share
StreetTalk
Bill Ackman can't catch a break on his Chipotle Mexican Grill Inc. investment.
bill ackman, lost, million, stake, chipotle
128
2017-26-25
Wednesday, 25 October 2017 11:26 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved