Hell is coming. For Chipotle (CMG)
Posted: Apr 24, 2024
- Stock: CMG (Chipotle) - Stock has increased 69% since October 2023 lows - Heavy selling on 3/20 once price hit $3000 - Hedge funds looking to exit at current level - Catalyst: Earnings report after close, California minimum wage increase affecting prices - Ackman reduced position in Q4 2023 - Potential risks: price increases, staff reductions - Position: 2600p 5/17 (Put option)
Summarized top reddit comments: - Chipotle has room for growth in foreign markets - Becky may not be ready for authentic Mexican food - Introduction of new menu items may not always translate to total sales - Investing in Chipotle may involve pissing away a premium - Risky to invest due to expensive options
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