(Reuters) – Bill Ackman’s Pershing Square Capital Management owns about 6% of Domino’s Pizza Inc, the billionaire investor told the Wall Street Journal on Wednesday.
Ackman, whose bets on companies are closely watched, also said he swapped Starbucks Corp for the pizza chain, the WSJ added https://on.wsj.com/3w2fRBG.
“It’s (Domino’s) a very compelling story and big international growth opportunity … and there’s plenty of room to run both here and abroad,” Ackman told the Journal during its Future of Everything Festival event.
Domino’s shares rose as much as 5.9% to a record $447.10 on the news, while Starbucks fell 1.4%.
Pershing Square declined to comment, while Starbucks and Domino’s did not immediately respond to Reuters’ requests for comment.
(Reporting by Praveen Paramasivam in Bengaluru; Editing by Shinjini Ganguli and Maju Samuel)
