Activist investor takes on Shake Shack and seeks three board seats

A Californian investment firm is looking to acquire three seats on the board of Shake Shack in a plan to rescue the burger chain as customers pull back on spending.

Shake Shack's stock price was soaring high in early 2021 but took a major hit as the rate workers returned to offices in major cities after the pandemic was slow.

As of Monday it was trading at around $70 having rallied 50 percent in the last year, but still well down from its all-time high of $130 in February 2021.

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