Shit, he's not exactly hitting the right stocks is he? Herbalife up and Chipotle down...
Well, I guess HLF has backed off 10% in the past week again, but still up 40% from January... and I don't know when he bought CMG, but that's down 45% since May...
I'm sure he's got a few stocks that do well though... but these would hurt.
Ackman: All directors, shareholders 'disappointed' by Chipotle slide
BOSTON, Oct 25 (Reuters) - Activist investor William Ackman
on Wednesday said he believes directors and investors in
Chipotle Mexican Grill Inc <CMG.N> are disappointed in the
chain's recent performance, on a day its shares hit their lowest
since 2013.
Ackman's Pershing Square Capital Management holds a 10
percent stake, making the hedge fund the largest investor in the
fast-casual burrito chain.
"There is not a member of the board of directors; there is
not a member of management; there is not a shareholder of the
company who isn't disappointed with the progress of the company
so far," Ackman said in an interview with Reuters in Boston.
Chipotle on Tuesday posted lower-than-expected earnings and
said it would open fewer restaurants than previously planned
over the coming year, news that sent its shares down 14.6
percent to close at $277.01 on the New York Stock Exchange.
[nL2N1N01EC]
Ackman declined further comment on the company. His fund's
stake in Chipotle lost about $145 million in value in
Wednesday's slide.
The billionaire investor in May described Chipotle Chief
Executive Steve Ells as "outstanding." [nL2N1IK2SY] Ells was
made sole chief executive in December when Pershing Square also
received two board seats.
Ackman has a been involved with a number of companies where
chief executives have lost their positions soon after he arrived
on the scene including Canadian Pacific and Air Products.
Chipotle's sales swooned in November 2015 when the chain was
linked to a multi-state E. coli outbreak and went into free fall
in December 2016 after at least 80 Boston College students were
sickened by norovirus traced to a Chipotle restaurant.
Ackman signaled that he was not worried about the safety of
Chipotle's burritos, tacos and salads, noting that he had eaten
lunch at the chain on Wednesday.
"The entire investment team is going to be eating Chipotle
until the stock price is back at $500," he joked.
(Reporting by Svea Herbst-Bayliss; Writing by Scott Malone;
Editing by Cynthia Osterman)
((scott.malone@thomsonreuters.com; +1 617 856 4342; Reuters
Messaging: scott.malone.thomsonreuters.com@reuters.net))
Keywords: HEDGEFUNDS ACKMAN/CHIPOTLE
Rank : negative
Related tickers: CHIPOTLE MEXICAN GRILL INC (C9F, CMG)
All English Language News: All English Language News
Other: Business Activities, Corporate Results, Domestic Newspool (Reuters), Fund Industry News, Hedge funds, Industry News (3rd Party), Metal Goods and Engineering, Money (3rd Party), N American Securities Domestic News Service (Reuters), N American Wealth Management News Service (Reuters), Reuters Corporate Newspool (Reuters), Reuters Markets Newspool (Reuters), Reuters News (Attribution Code), Reuters Securities Newspool (Reuters), Securities International News Service (Reuters), Short track skating
Region Related: United States of America
Subject Related: Reuters US Equities Newspool (Reuters)
Well, I guess HLF has backed off 10% in the past week again, but still up 40% from January... and I don't know when he bought CMG, but that's down 45% since May...
I'm sure he's got a few stocks that do well though... but these would hurt.
Ackman: All directors, shareholders 'disappointed' by Chipotle slide
BOSTON, Oct 25 (Reuters) - Activist investor William Ackman
on Wednesday said he believes directors and investors in
Chipotle Mexican Grill Inc <CMG.N> are disappointed in the
chain's recent performance, on a day its shares hit their lowest
since 2013.
Ackman's Pershing Square Capital Management holds a 10
percent stake, making the hedge fund the largest investor in the
fast-casual burrito chain.
"There is not a member of the board of directors; there is
not a member of management; there is not a shareholder of the
company who isn't disappointed with the progress of the company
so far," Ackman said in an interview with Reuters in Boston.
Chipotle on Tuesday posted lower-than-expected earnings and
said it would open fewer restaurants than previously planned
over the coming year, news that sent its shares down 14.6
percent to close at $277.01 on the New York Stock Exchange.
[nL2N1N01EC]
Ackman declined further comment on the company. His fund's
stake in Chipotle lost about $145 million in value in
Wednesday's slide.
The billionaire investor in May described Chipotle Chief
Executive Steve Ells as "outstanding." [nL2N1IK2SY] Ells was
made sole chief executive in December when Pershing Square also
received two board seats.
Ackman has a been involved with a number of companies where
chief executives have lost their positions soon after he arrived
on the scene including Canadian Pacific and Air Products.
Chipotle's sales swooned in November 2015 when the chain was
linked to a multi-state E. coli outbreak and went into free fall
in December 2016 after at least 80 Boston College students were
sickened by norovirus traced to a Chipotle restaurant.
Ackman signaled that he was not worried about the safety of
Chipotle's burritos, tacos and salads, noting that he had eaten
lunch at the chain on Wednesday.
"The entire investment team is going to be eating Chipotle
until the stock price is back at $500," he joked.
(Reporting by Svea Herbst-Bayliss; Writing by Scott Malone;
Editing by Cynthia Osterman)
((scott.malone@thomsonreuters.com; +1 617 856 4342; Reuters
Messaging: scott.malone.thomsonreuters.com@reuters.net))
Keywords: HEDGEFUNDS ACKMAN/CHIPOTLE
Rank : negative
Related tickers: CHIPOTLE MEXICAN GRILL INC (C9F, CMG)
All English Language News: All English Language News
Other: Business Activities, Corporate Results, Domestic Newspool (Reuters), Fund Industry News, Hedge funds, Industry News (3rd Party), Metal Goods and Engineering, Money (3rd Party), N American Securities Domestic News Service (Reuters), N American Wealth Management News Service (Reuters), Reuters Corporate Newspool (Reuters), Reuters Markets Newspool (Reuters), Reuters News (Attribution Code), Reuters Securities Newspool (Reuters), Securities International News Service (Reuters), Short track skating
Region Related: United States of America
Subject Related: Reuters US Equities Newspool (Reuters)
... keep that up though! 