Purchase Date: July 18th, 2017
Sell Date: Aug 22nd, 2018
Purchase Price: $374.98
Sell Price: $514.31
Gain: 37.2%
Current Price:[stock_ticker symbols="CMG" show="name" static="1" nolink="" speed="10" class=""]
Why We Sold Chipotle
Chipotle (NYSE: CMG) is an excellent company, and we’re excited for new CEO Brian Nicoll. With that said, we worry that Chipotle’s excitement has been priced in without an uptick in results. Furthermore, with China’s internet stocks being hammered in 2018, we believe there is more upside in that space.
Since we sold Chipotle, their stock price has been trending down. If Chipotle returned to a $10 billion valuation, we would entertain opening our position again.
Why We Like Chipotle
Chipotle (NYSE: CMG) has a market cap of only $10.64 billion – and the growth is nowhere near over, they have roughly 2.3k stores and plan to open an additional 200 in 2016. On top of adding stores, they’re investing heavily in digital sales and catering.
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