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Why Chipotle Stock Fell Wednesday

TheMotleyFool

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While shares of Chipotle (NYSE: CMG) initially rose more than a percentage point in after-market hours on Tuesday, following the company's third-quarter update, the stock is down more than 5% as of 11:00 a.m. EDT on Wednesday. The pullback comes despite Chipotle reporting revenue, adjusted earnings per share, and comparable-restaurant sales growth that were all well ahead of consensus analyst estimates.

Investors may be concerned about the company's decision to push some store openings into 2020 and management's expectations for higher costs due to its new carne asada. In addition, this may simply reflect a cooling-off of the stock price after a 92% gain leading up to the earnings report.

Image source: Getty Images.

Source Fool.com

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