Shares of McDonald's Corporation MCD spiked over 2 percent after Pershing Square’s Bill Ackman declined to comment on Bloomberg TV regarding a rumored stake in the company.
Ackman felt that “if MCD was run as well as [Burger King Worldwide Inc BKW], MCD [shares] would be up more," which traders may assume to mean that Ackman sees ways to unlock value in MCD.
The action in MCD follows unusual options activity on the stock and the rumor that Ackman is seeking a REIT spin-off for McDonald’s.
McDonald's Corporation recently traded at $90.52, up 2.03 percent.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
