Topic: How To Invest

Power Growth Investor Hotline – Friday, March 22, 2024

Article Excerpt

CHIPOTLE MEXICAN GRILL INC., $2,882.04, is a buy. The stock (symbol CMG on New York) lets you tap this Mexican restaurant chain, headquartered in Denver. The company is a fast-food leader charging slightly higher prices than its competitors but offering better quality food, including naturally raised meat. Chipotle now plans to split its stock on a 50-for-one basis. The company intends to seek shareholder approval for this amendment at its upcoming annual meeting on June 6, 2024. This is the first stock split in Chipotle’s 30-year history. If approved, shareholders of record as of June 18, 2024, will receive 49 additional shares for each share held, which will be distributed after market close on June 25, 2024. 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…