Why Chipotle Stock Tanked Thursday Just After Its Stock Split
Chipotle Mexican Grill (NYSE: CMG) has been one tasty quesadilla of a stock on the exchange over the years. The fast-casual restaurant chain operator didn't have a good session on the market Thursday, however. Its shares fell more than 5% in value, which wasn't unusual given what happened the previous day.
Chipotle investors started Wednesday with a much higher number of shares than they held previously. Of course, this was due to the 50-for-1 stock split that kicked in that morning.
That ratio is pretty high -- most stock splits are more in the 10-for-1 range or so -- but it feels like a good move given how pricey the restaurant operator became on a per-share basis. A cheaper stock is a more attractive one, and it's likely many investors piled into Chipotle recently in the hopes that its popularity would surge post-split.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
With 75 Buy predictions and 1 Sell predictions Chipotle Mexican Grill Inc. is one of the favorites of our community.
Based on the current price of 48.2 € the target price of 2370 € shows a potential of 4817.01% for Chipotle Mexican Grill Inc. which would more than double the current price.
