2024-08-05 09:00:00 ET
It's been a tough past month-and-a-half for Chipotle Mexican Grill (NYSE: CMG) shareholders. Although the stock's up since the company reported solid second-quarter numbers a little over a week ago, it's also still down 22% from its mid-June peak.
Rather than worrying about whether or not Chipotle stock's already made its ultimate low, investors might instead want to use what's left of this dip as a buying opportunity. It's a discount that Chipotle shares don't offer very often, or for very long.
On the off-chance you're not familiar with it, Chipotle Mexican Grill is a Tex-Mex eatery. Its best-known for custom-made burritos and salad "bowls" that are not only delicious, but wrapped up and easy to eat. It's technically fast food, but it's also far from being just-another hamburger joint . It competes with outfits like Moe's and Qdoba, but with 3,530 stores Chipotle is by far the biggest name in the premium burrito business.
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1 Growth Stock Down 22% to Buy Right Now