Potential Stock Splits in 2024: 2 Magnificent Growth Stocks Up 575% and 780% in 7 Years to Buy Now and Hold Long-Term
In January, I wrote that Chipotle Mexican Grill could split its stock in 2024. Sure enough, the company approved a 50-for-1 split two months later. Shares have risen 2% since the announcement, possibly because investors are excited. Stock splits make shares more affordable, but they can also spotlight fundamentally strong companies.
I say that because stock splits are only necessary after significant price appreciation, which rarely happens to companies that lack a competitive advantage. For instance, Chipotle has built brand authority by focusing on fresh ingredients and responsibly raised meat. That has translated into strong financial results and share price appreciation. Revenue increased at 18% annually over the last three years, and the stock more than doubled in value.
However, the stock split itself is irrelevant. Substantial and sustained price appreciation is what tells investors the company is doing something right.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
With 70 Buy predictions and 1 Sell predictions Chipotle Mexican Grill Inc. is one of the favorites of our community.
Based on the current price of 45.89 € the target price of 2478 € shows a potential of 5300.46% for Chipotle Mexican Grill Inc. which would more than double the current price.
