Chipotle splits its stock 50-1

Article Excerpt

CHIPOTLE MEXICAN GRILL, $2,902.96, is a buy. The company (New York symbol CMG; TSINetwork Rating: Extra Risk) (Shares outstanding: 27.6 million; Market cap: $80.2 billion; No divid.) now plans to split its stock on a 50-for-one basis. This is the first stock split in Chipotle’s 30-year history. Chipotle’s shares are expected to begin trading on a post-split basis at the market open on Wednesday, June 26, 2024. The split will have no impact on the total value of your Chipotle holdings. However, the additional shares on the market will improve liquidity and encourage more individual investors and Chipotle employees to purchase the shares. Chipotle Mexican Grill is a buy. buy…