Bill Ackman’s massive $224 million bet on Chipotle Mexican Grill, Inc. CMG may be down 33 percent in a little over a year, but Ackman’s most recent letter to Pershing Square investors assured them everything is going according to plan. Unfortunately for Ackman, the market doesn’t share his enthusiasm for Chipotle. The stock is down 25.9 percent year-to-date and has fallen below $280 for the first time since early 2014. Much of 2017’s declines can be written off as short-term volatility while investors get a clearer picture of Chipotle’s longer-term financial outlook, Ackman said. Read moreThere is a chance to form some upside and close the gap. $CMG, Chipotle Mexican Grill, Inc. / D