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Wajeeh Khan

SHAK Stock Is in Focus as Starboard Value Discloses Stake in Shake Shack

Shake Shack (SHAK) shares ended meaningfully higher on Wednesday after activist hedge fund Starboard Value disclosed a sizable position in the fast-casual chain.

Starboard’s chief executive Jeff Smith revealed on Bloomberg TV that his firm has accumulated a stake worth several hundred million dollars, aiming to unlock shareholder value.

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