Starboard Stake Sends Shake Shack Soaring Wednesday
Shake Shack shares are surging Wednesday afternoon following news that activist hedge fund Starboard Value has taken a position in the fast-casual burger chain.
A big investment company called Starboard bought a chunk of Shake Shack stock, which made the stock price jump up. When smart money managers believe in a company enough to invest in it, that's a signal others might watch the company more closely.
Last session drawn · prints held ~15 minutes · licensed exchange data
Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
Disclosure: Educational and informational purposes only — not financial advice. We educate, not advise. Market data may be delayed up to 15 minutes unless marked real-time. Past performance is not indicative of future results.