Shake Shack jumps as Starboard Value takes stake

Shake Shack shares have increased following the announcement that Starboard Value has acquired a stake in the company. During an interview with Dani Burger on Bloomberg Deals, Starboard Value CEO Jeff Smith confirmed that his firm has established a position worth several hundred million dollars in Shake Shack. This investment by the activist investor has led to a positive market reaction for the restaurant chain as the news of the significant financial position became public.