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Maybe David Einhorn should add grill master to his résumé.
The famed short-seller, who famously struck out in his bid for a majority stake in the New York Mets, sent shares of Chipotle Mexican Grill down as much as 9 percent yesterday after warning of trouble ahead for the popular restaurant chain.
In a packed conference room in Times Square yesterday, Einhorn joked that thanks to its new Cantina Bell menu, which boasts healthier options, Yum Brands’ Taco Bell is starting to “eat Chipotle’s lunch.”
Einhorn also poked K-Cup maker Green Mountain Coffee Roasters, which he first panned last year at the same Value Investing Conference.
The stock fell almost 5 percent before rebounding to end the day up 68 cents at $23.99, or almost 3 percent.
After falling as much as 9 percent in early trading, Chipotle regained some ground but still ended down $13.17, or 4.2 percent, to close at $302.96.
Einhorn — whose investment picks and pans often move markets — famously predicted the demise of Lehman Brothers. He has “Einhorned” other stocks such as real-estate developer St. Joe and Herbalife.
“Apparently, I’m now a verb,” he said, referring to recent use of his last name to describe stock slides in the wake of his warnings, or even perceived warnings.
Despite the boasting, Einhorn admonished investors to do their own homework — a lecture that took up the first 12 minutes of his presentation.
“It doesn’t make sense to blindly follow me or anyone else into a stock,” he said. “Do your own work.”