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Market Chatter: Starboard Takes Stake in Shake Shack Worth Hundreds of Millions of Dollars

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Starboard Value has built a stake in Shake Shack (SHAK) worth "several hundred million dollars," Bloomberg reported Wednesday, citing an interview with the firm's Chief Executive Jeff Smith.

Shake Shack didn't immediately reply to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $73.09, Change: $+6.87, Percent Change: +10.37%

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