Chipotle Stock Just Lost More Than One-Fourth of Its Value. 3 Reasons Now Is the Time to Start Buying.
Chipotle Mexican Grill (NYSE: CMG) recently released its earnings report for the second quarter of 2024, the first after its historic 50-for-1 stock split. While the news was positive, it failed to stem the downtrend that began just before the split took effect. Consequently, the stock price has fallen by more than 25% in just over a month.
However, despite the severity of this pullback, it is doubtful any disappointments have undermined the case for investing in Chipotle stock. In fact, investors should either hold their positions or possibly add shares for three compelling reasons.
From a certain point of view, the stock split is not a reason to buy Chipotle or any other stock. After all, 50 shares at $50 per share carry the same value as 1 share worth $2,500, meaning the split makes no difference in the ownership stake or value of one's Chipotle shares.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
The stock is one of the favorites of our community with 70 Buy predictions and 1 Sell predictions.
With a target price of 2478 € there is potential for a 4945.82% increase which would mean more than doubling the current price of 49.11 € for Chipotle Mexican Grill Inc..
