Chipotle (NYSE: CMG) stock briefly touched a new high in the second half of 2021, thanks to soaring consumer spending as the world emerged from the worst of the pandemic. Shares are down about 20% since that period, compared to a 9% drop in the S&P 500 .
Does that drop represent a screaming buy opportunity, or should investors ignore this stock in favor of other fast-food giants like McDonald's (NYSE: MCD) ? Let's take a closer look.
Chipotle's latest operating trends look strong, although investors are bracing for a slowdown ahead. Comparable-store sales in the most recent quarter were up about 8% and total revenue increased about 14% with help from an expanding store base.
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Chipotle Is Down 20% From Its High. Time to Buy?