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Chipotle Mexican Grill Inc (NYSE:CMG) just pulled off a major move, splitting its stock 50-for-1 after Tuesday's close. Starting Wednesday, shares will trade on a post-split basis, making the stock more accessible to a wider range of investors.
The split, Chipotle’s first, drops its share price from around $3,300 to about $65-$70, a significant shift that has Wall Street buzzing.
Jim Cramer is bullish on the burrito maker, urging investors to hold rather than trade Chipotle stock.
Meanwhile, Michael C. Khouw, Chief Strategist at OpenInterest.PRO, explains the split's impact on options: contracts and open interest multiply by 50 and strike prices are divided by the same amount. This means trading volumes will surge initially but might stabilize over time as the lower price attracts more investors.
Also Read: $100 Invested In This Stock 5 Years Ago Would Be Worth $400 Today
Meanwhile, traders on Reddit are discussing ways to play the stock split.
Over on Reddit's r/stocks, user floridamanconcealmnt outlines two strategies to leverage the split:
With Chipotle's strong market presence and booming business, these strategies could offer lucrative opportunities for savvy investors.
Whether holding long-term or trading options, there's plenty of sizzle in the Chipotle stock story this week.
CMG Price Action: Chipotle stock was up 1.91% to $3254.58 at the time of publication Tuesday.
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Posted In: CMG