Chipotle Stock Plummets 5% Following Stock Split as Investors Take Profits

Chipotle Mexican Grill stock fell more than 5% on Thursday after a 50-for-1 stock split took effect on Wednesday. The steep decline was likely due to profit-taking by investors who bought Chipotle stock in anticipation of the split. Some investors may have sold Chipotle shares to lock in profits from the run-up in its price before the split. This selling pressure caused the stock to decline. Chipotle's business fundamentals did not change, and believers in the company could see the dip as a buying opportunity. Chipotle has generally been a strong performer for investors over the years, and its popularity may support a rebound in the share price.