Chipotle Mexican Grill (NYSE: CMG) is having a moment. The company's stock has been red-hot this year, gaining about 70% since last November. And now, investors are looking forward to its upcoming 50-to-1 stock split. When markets open on June 26, shareholders will own 50 times as many shares as they did at the close of trading on June 25, but the price of each one will be about one-fiftieth of what it was before. The stock split won't change the value of people's investments or the valuation of the company -- at least, not in and of itself.

It will, however, make the shares somewhat more accessible to smaller retail investors, including Chipotle's employees. Chief Financial Officer and Chief Administrative Officer Jack Hartung said the move would help the company "reward our team members and empower them to have ownership in our company." And as shares become more accessible, demand for them could increase, which could add to the momentum behind the stock.

Regardless of the direct and indirect impacts of a split, the question remains: Is Chipotle a good investment at its current valuation?

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Source Fool.com