Why Chipotle Mexican Grill Stock Soared Today
Shares of Chipotle Mexican Grill (NYSE: CMG) surged on Wednesday after the restaurant chain generated stronger-than-expected profits in the second quarter.
As of 1:30 p.m. ET, Chipotle's stock price was up 13%.
Chipotle's revenue jumped 17% year over year to $2.2 billion, propelled by new restaurant openings and higher sales at its previously existing locations. Chipotle's comparable-store sales grew by 10.1%, as more people returned to its restaurants. The company also opened 42 new locations during the quarter, bringing its store count to over 3,0000.
Source Fool.com
