Should You Buy Chipotle Stock Before Its Ginormous 50-for-1 Stock Split?
If you're going to do something, do it big. That appears to be the mindset of Chipotle Mexican Grill's (NYSE: CMG) board of directors.
Last Tuesday, Chipotle announced that its board approved a 50-for-1 stock split. It's not a done deal just yet. Shareholders must approve the stock split at the annual meeting scheduled for June 6. However, assuming there are no roadblocks, the Mexican restaurant chain will split its shares after the market closes on June 25. Should you buy Chipotle stock before its ginormous 50-for-1 stock split?
Before we address whether to buy Chipotle stock, let's first look at the historic nature of the company's upcoming move. Chipotle noted in its press release last week, "This would be one of the biggest stock splits in New York stock Exchange (NYSE) history."
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 5300.46% increase which would mean more than doubling the current price of 45.89 € for Chipotle Mexican Grill Inc..
