Chipotle (CMG) Shares Sank After Ceo Admitted This

Chipotle CEO Steve Ells made investors as nervous as he was, resulting in shares sinking more than 7% on Tuesday.
Apparently the company is nervous about hitting the guidance that it had provided back in October.

In its guidance, the restaurant chain had said same store sales would fall at a low single digit rate in the fourth quarter and would rise at a high-single digit rate next year.

On Tuesday, Ells told investors at a conference, “I’m not satisfied with the rate of recovery and the quality of the restaurant experience.”

Bill Ackman, billionaire famed investor, just bought a 10% stake in the chain three months ago. Is he going to be regretting this move soon?

Disclaimer: We have no position in Chipotle Mexican Grill, Inc. (NYSE: CMG) and have not been compensated for this article.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

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