Chipotle Plans 50-For-1 Stock Split; Share Price Rises Late

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

X

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

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

A split can sometimes spur buying as investors see the stock as “cheaper,” even though their ownership stake is no different than before. Stock splits do make options trading easier.

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

In 2022, Google parent Alphabet (GOOGL) announced a 20-for-1 split.

Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.

YOU MAY ALSO LIKE:

Why This IBD Tool Simplifies The Search For Top Stocks

Best Growth Stocks To Buy And Watch

IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today

Nvidia Leads Market Bounce, 15 Stocks Set Up, But Here Comes The Fed

..

Read More

Recommended For You

Leave a Reply

Your email address will not be published. Required fields are marked *

Discover more from Investor News Blog Finance Exchange News

Subscribe now to keep reading and get access to the full archive.

Continue reading