A Bull Market Is Coming: 3 Reasons to Buy Chipotle Mexican Grill Stock
After an optimistic start to 2023, the S&P 500 lost all of its year-to-date gains recently. Investors are still reeling from the Silicon Valley Bank failure, although many of the smaller bank stocks that had been dropping started to come back to life after the U.S. government announced that all Silicon Valley Bank depositors would get their funds back.
There's no telling how this will further unfold in the near term. In the meantime, you can shore up your portfolio with resilient stocks that have high potential, can withstand pressure, and are trading at bargain levels. Chipotle Mexican Grill (NYSE: CMG) is one such stock. Here are three reasons to buy it now.
Many companies have been able to eke out small sales increases in recent quarters despite the pressured and inflationary environment, but many are also demonstrating drastically reduced profits. Chipotle has been able to raise its prices without curbing demand, leading to both increased sales and better profits. It sits in a resilient space, offering fast-casual food that appeals to an upscale clientele, but at affordable prices.
Source Fool.com
