Billionaire hedge fund manager Bill Ackman strategically reduced his stake in Chipotle Mexican Grill Inc. (NYSE:CMG) just before the restaurant chain's recent stock selloff and CEO departure. Ackman’s move comes at a critical juncture, suggesting his knowledge of Chipotle’s business dynamics gave him an edge over the broader market. What Happened: The restaurant chain, known for its burritos, is witnessing the worst quarter in more than four years. Since July 1, Chipotle's share price has declined by 17%, setting it on course for its worst quarter since the first quarter of 2020, when it fell 22%. Despite Chipotle reporting stronger-than-expected revenue and earnings last quarter, the market's reaction to the results was negative, with the stock falling 1.9% on the day after as the company's management chose to hold steady its ...