Chipotle lowers 3Q profit expectations, stock falls 19 percent
Before lunch, shares of Chipotle were down 19 percent after the company announced that third quarter profits and sales will be lower due to rising commodities prices and decreased consumer spending.
If you are not familiar with Chipotle, you should take a look at this company’s chart. Very interesting. Chipotle is a McDonald’s spin-off that had amazing growth after its IPO in 2006. This year has been brutal for the popular mexican grill chain.
I don’t own or follow Chipotle, but I always wondered why its stock price rose so much so quickly. Perhaps this year’s drop is part lower sales and part correction? Any Chipotle fans care to weigh in? Leave a comment or email me at prof.silver@hotmail.com
Tags: chipotle, mcdonald's, mexican grillRelated Stories
POSTED IN: Corporate, Earnings, Investment, Market, News
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