After Chipotle's Stock Split, Can It Reach $3,000 Again?
(NYSE: CMG) is one of the most popular fast-casual options on the market and one of the fastest growing. It's garnered a lot of attention from investors, and after another strong quarter, the company's stock tipped above $3,000 in early 2024.
That's a pretty expensive stock. For many smaller, retail investors, it was prohibitively expensive, leading the company to implement a 50-for-1 stock split. Chipotle joined a growing list of companies to make the same decision.
On June 20, traders woke up to notice that shares were trading below $70. Maybe some briefly panicked before they realized that no, the company's stock didn't suddenly crater and lose 98% of its value. Instead, the split had taken effect and they now owned 50 times as many shares trading at 1/50th of the price.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
The stock is one of the favorites of our community with 77 Buy predictions and 1 Sell predictions.
With a target price of 2357 € there is potential for a 4548.0% increase which would mean more than doubling the current price of 50.71 € for Chipotle Mexican Grill Inc..
