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.

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Source Fool.com