Quite literally, this is bad news for shareholders of CMG. Take this inane 5.5% after hours bounce and run for the hills.
This is the 3rd high profile stake by Ackman over the past two years, the first two striking out miserably in HLF short and VRX long. My best guess, if Ackman strikes out with CMG, it’s lights out for Pershing Square.
The Issuer is a leading fast casual restaurant company that the Reporting Persons believe has a strong brand, differentiated offering, enormous growth opportunity, and visionary leadership. The Reporting Persons believe that the Issuer’s Common Stock is undervalued and is an attractive investment. The Reporting Persons intend to engage in discussions with the Issuer and Issuer’s management and board of directors, other stockholders of the Issuer and other interested parties that 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.”
Ackman’s 9.9% stake in CMG is causing idiots to chase it in the after hours, as if this man had a good track record with big investments.
OA took a large stake this morning also. Jeff must have the inside scoop. I like that idea whether true or not.
As for ackman. He’s not such a bad guy, except the shit he pulled with vrx should be considered insider trading.
HLF is going to get killed soon..
Jeff has been on fire. Good for him.
And no, Ackman is a bad guy.
I have 3 teenagers (16, 15, 13). I asked them which dump they liked better for crappy Mexican food (chipotle vs. moe). They all said moe’s and the oldest muttered something about “not wanting to die from ecoli” – BTW they all liked Panera’s better the moe’s. Oh, and teenage girls like Forever 21 for clothes this year. All the boys are wearing Nike’s in high school.
Wtf is Moe’s…
Google it smarta$$
I agree, I am 33 years old and I hear the same from my age group. I actually see less demand for quick mexican in general since the whole CMG problem surfaced. Moe’s used to be very popular as well but the party appears to be over. Around me, the burger joints are owning it right now.
Unfortunately, I have been on a god awful low carb diet for 2016, so all this shit is out of the question for me.
I’m not certain of this, but my guess is that the target market for Chipotle is college age and 20 something single people. 30 somes have little kids that won’t eat that food, and I tend to see people there with friends rather than families.
I have a recently divorced co-worker that can’t get enough Chipotle. He’s really into Chiptopia and will be getting the free catering for 20 after having eaten 12 burritos for 3 months straight. I have no idea how he can stomach that many of those burritos…
Same here. It’s amazing how much social media can ruin a brand.
Never mind this mexican joint or those other POS stocks.
THESE are the guys you give your money to invest.
You mutual fund manager is no better, btw
OA of course was in there this morning with a bag of calls before this. Incredible. Another 1000% in the making.
CMG is Ackman’s cry for help.