Wall Street Just Downgraded Chipotle Stock. Here's What Investors Should Do Next.
Chipotle stock isn't the restaurant darling it once was, but patient investors may be able to extract long-term gains.
Wall Street Just Downgraded Chipotle Stock. Here's What Investors Should Do Next.
Overview
Consumer confidence isn't in the proverbial tank, but the Conference Board's May reading was 93.1, below the 93.8 posted in April. In fact, the Consumer Confidence Index isn't far off some of the levels seen during the COVID-19 pandemic.
Throw in the war in Iran, and it's not surprising that some investors are leery regarding consumer discretionary stocks. The conflict in the Middle East is a major driver of resurgent inflation, and as consumers tighten their belts, some fast-food stocks are being pinched, including Chipotle Mexican Grill (NYSE: CMG).
Chipotle stock is in a lengthy slump, but it has rebound potential. Image source: Getty Images.
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Originally published at www.fool.com.
