Why Chipotle Mexican Grill Stock Dropped 13% in July
Shares of burrito king Chipotle Mexican Grill (NYSE: CMG) dropped 13% in July according to data provided by S&P Global Market Intelligence. It comes on the heels of a highly watched stock split followed by negative reports about the state of the restaurant industry.
Chipotle is known for its healthy and fresh ingredients at its more than 3,500 fast-casual restaurants. It has developed a loyal fan base of affluent customers who appreciate its food quality and menu as well as its lower pricing as compared with typical luxury-style fare.
That gives it resilience under inflationary conditions, and performance has been outstanding over the past few years despite a pandemic and inflation. It's also clued into changing trends, and it has a robust omnichannel ordering system that gives customers flexibility.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
The stock is one of the favorites of our community with 75 Buy predictions and 1 Sell predictions.
With a target price of 2370 € there is potential for a 4882.66% increase which would mean more than doubling the current price of 47.57 € for Chipotle Mexican Grill Inc..
