CMG - Chipotle's Stock Split Happens This Week. Here's What to Expect.
2024-06-24 04:50:00 ET
Chipotle Mexican Grill (NYSE: CMG) is doing something it's never done before in its 30-year history. The company is splitting its stock, with the operation scheduled for this week. The decision came after the shares soared in the triple digits over the past few years, reaching beyond $2,000 last year and past $3,000 this year.
The reason for such enormous gains? This fast-casual restaurant has reported quarter after quarter of growth -- even excelling during early pandemic days thanks to its digital ordering system -- and has built a brand that keeps customers coming back. Now, the stock split will bring the per-share price of this high-flying stock down, making it more accessible for a broad range of investors.
Let's take a look at what to expect -- and consider whether this restaurant giant is a buy.
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Chipotle's Stock Split Happens This Week. Here's What to Expect.