Wall Street 'cannot fathom' why Bill Ackman invested in Chipotle

September 7, 2016 2:42 PM

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Wall Street 'cannot fathom' why Bill Ackman invested in Chipotle

It has been less than 24 hours since hedge fund manager Bill Ackman and his Pershing Square fund announced a 9.9% ownership stake in fast casual chain Chipotle.

Ackman's stake, and subsequent filing, indicate that the investor plans to try and shake up the burrito chain as he has done to previous investments such as JC Penney (which did not end well) and Canadian Pacific Railroad (which has gone better).

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