Holy Burritos: Chipotle Hits new 12 Month High
Just when you thought Chipotle Mexican Grill (NYSE:CMG) was dead after the E Coli scare we have a winner. CMG shares hit a new 52-week high today of $483.50. That makes a huge 27% year-to-date gain. They were our number one stock pick at the beginning of the year and suggesting buying when it was at it's 12 month low.
Just like that CMG is back in favor with Wall Street. Cramer was right that it would take 18 months of incident free operation to get the stock back on track. Well mission accomplished with today's new 12 month high.
The shorts have been bailing from this stock however the short interest has only fallen 1% since the start of the year. The short interest was at 17% in Jan 2017 and now it's only fallen to 16.04%.
Barron's thinks the stock has ran up too fast and that could hurt shareholders if any bad news comes out:
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