CMG - Chipotle Just Completed Its Stock Split: Here's What Happens Next.
2024-06-26 05:02:00 ET
Chipotle Mexican Grill (NYSE: CMG) shares, which soared to highs beyond $3,000 in recent times, today start trading at a new, more appetizing price. The company has completed its 50-for-1 stock split, one of the biggest in New York Stock Exchange history and a first-ever split for the fast-casual restaurant chain. As a result, the stock, considering the last closing price, is set to trade at around levels of $63 right now.
This follows years of revenue growth for the company, proving its brand strength even during difficult times such as earlier pandemic lockdowns. Chipotle has followed up by opening more and more locations and expanding internationally. So far, this has not only spurred diners to rush to their local Chipotle, but it's also whetted the appetite of investors.
So, what's next for the popular chain and its stock? Let's find out.
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Chipotle Just Completed Its Stock Split: Here's What Happens Next.