Long Position on CMG @ $62.00 on 6/28/2024 (Fundamentals)

Chipotle Mexican Grill, Inc. (CMG), together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads.

The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.

Chipotle Mexican Grill, Inc. was founded in 1993 and is headquartered in Newport Beach, California.

Chipotle Mexican Grill reported earnings of $13.37 per share on revenue of $2.70 billion for the first quarter ended March 2024. The consensus earnings estimate was $11.63 per share on revenue of $2.66 billion. The company beat expectations by 13.69% while revenue grew 14.07% on a year-over-year basis.

Entry Point: $62.00

Trading Range: $5.36 - $25.69

Stop Loss: $58.90

Target Price: $68.00

Position closed on 7/9/2024 at price of $58.90 with a -5.00% loss in 11 days.

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