Why Chipotle Stock Topped the Market Today
It's pushing into an adjacent market that's quite promising.
Overview
Chipotle Mexican Grill (NYSE: CMG) was generating some heat on the stock market as the trading week opened on Monday. That sizzle came from news of expansion into a prime foreign market, and a bullish analyst update. These helped power Chipotle's shares to a nearly 4% gain, on a Monday that saw the benchmark S&P 500 index slump by 0.8%.
It might be surprising to learn that for a company with "Mexican" in its name, Chipotle has never operated a restaurant in Mexico.
Image source: Getty Images.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.