Chipotle plans 50-for-1 stock split; Share price rose late

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By journalsofus.com


Chipotle Mexican Grill (CMG) announced late Tuesday that its board has approved a 50-for-1 stock split. Chipotle’s stock rose strongly overnight.




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Shareholders will vote on the Chipotle stock split at the annual meeting on June 16.

Chipotle stock jumped 4.9% in late trading. Shares rose 0.9% to 2,797.56 on Tuesday, a record close.

Splits can sometimes motivate buying because investors view the stock as “cheaper”, even though their ownership stake is no different than before. Stock splits make options trading easier.

The 50-for-1 stock split is unusually large.

In 2022, Google Guardian Alphabet (GOOGL) announces 20-for-1 split.

Please follow Ed Carson on threads @edcarson1971 and X/Twitter @ibd_ecarson For stock market updates and more.

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