I bought Chipotle at $50 thinking it was a safe bet, and now we're at $37. The stock is down 46% for the year while the S&P is up 16%. That hurts. The problem is young people aren't eating out as much anymore. The CEO said customers aged 25-35 are cutting back because everything's getting expensive. Traffic dropped for three straight quarters, and they keep lowering their sales forecast. I get that they're opening new stores and trying to bring customers back, but when your existing restaurants are seeing fewer people walk in, that's worrying. The stock hit a low of $29.75 recently. If it drops there again, I don't know what I'll do.
There are no replies in this thread yet. Be the first to post a reply below: