The Mexico Ledger - Mexico, MO
  • Chipotle Shares Are Going Bonkers (CMG)

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  • Business Insider
    Chipotle shares were up nearly 15% in Friday trading.
    CEO Steve Ells said in his earnings call Thursday the company plans to raise prices between 3% and 5% as it eliminates genetically modified organisms from its menu.
    They also had a nice beat on Q3 revenues, and saw net income rise more than 15%.
    And they forecast that nearly 200 new restaurants could open next year, up from a max of 180 this year.
    David Einhorn is not going to be thrilled.
    The Greenlight Capital chief devoted a huge chunk of his latest note to investors explaining why he thinks Chipotle is a good short.
    And a note from Goldman earlier this week saying the company was losing its "It factor."
    For now, defiance.
    See Also:
    SEE ALSO: How Chipotle Burrito Prices Vary Across America
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