Cheesecake Factory Stock Rises on Report Activist Urges Chain To Break Up
The Cheesecake Factory(CAKE) Investopedia·2024-10-22 21:20
KEY TAKEAWAYSJCP Investment Management, an activist investor, reportedly has built a stake in The Cheesecake Factory and is pushing for the restaurant chain to break up.The Cheesecake Factory shares are up 3% in premarket trading.According to The Wall Street Journal, Houston-based JCP has a roughly 2% stake in The Cheesecake Factory and is asking the restaurant operator to spin off three of its smaller brands into a separate public company focused on faster growth. JCP Investment Management, an activist inv ...