Chipotle Stock Tumbles as Excitement Over Its 50-to-1 Stock Split Fades

Chipotle Mexican Grill (CMG) was 1 of nan worst-performing stocks successful nan S&P 500 connected Monday, falling much than 5%, arsenic investor excitement complete nan Mexican fast-food chain’s 50-for-1 stock split continued to fade.

Shares of nan burrito institution deed a grounds closing precocious connected June 18 erstwhile shareholders approved nan split, which took effect connected June 26. Since then, though, they’ve slow declined, losing astir 13% of their worth done today's close. 

Chipotle and different companies person lately been accused of “shrinkflation,” nan thought of getting little for nan aforesaid price. Some Chipotle customers person claimed their burrito bowls person go smaller, and they’ve taken videos of labor making them, posting nan clips connected TikTok.

Chipotle Chief Executive Officer (CEO) Brian Niccol successful May told CNBC that nan institution has ne'er done that, adding “the full point is benignant of crazy to me.”

Monday’s selloff sent shares of Chipotle Mexican Grill to their lowest level since April. However, moreover pinch that drop, they person added astir a 3rd of their worth successful 2024.

The company's adjacent information of quarterly results are owed July 24.