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Finalmente!!!!!!!!! CMG Gets Its Beans Refried

Tim Knight from Slope of Hope's picture




 

Long-time Slopers know that I have had a special place in my black heart for Chipotle Mexican Grill. How do I hate thee? Let me count the ways:

+ The stock went up over 1,000% from late 2008 to early 2012 based on Mexican food which, in my opinion, is HALF as good as TWICE as expensive as anything I could get at any random Mexican joint in town

+ The completely bizarre, WTF behavior highlighted with the red line in the chart below showing the stock following a "something fishy is going on here" path for months on end;

+ The self-congratulatory signs in the store declaring that some - yes, some - of their ingredients were organic. That's like Hawaiian Punch's boast that they were made with 10% real fruit juice back when I was a kid. What's the other 90%? Urine?

In any event, the stock is getting its salsa ripped out this morning, down nearly $100 this morning. Hearty congratulations to buyers of put options on this former momentum favorite. Justice has finally been served on a platter.

0720-cmg

 

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Fri, 07/20/2012 - 19:37 | 2637972 cbxer55
cbxer55's picture

And no matter where you eat mexican food, you always get the smelly after-effects.

BBBRRRRAAAAAAPPPPPPPPP!!!!

He's pulling a trailer!

Quick, run for the border!

PHEW!

;-)

Fri, 07/20/2012 - 15:31 | 2637434 hannah
hannah's picture

back in the late 1990's i was in california for business and someone suggested we go eat 'burritos'....?what taco bell 39cent bean buttitos..? no lets go eat $8.50 designer burritos. i had never seen these before and i couldnt believe that people would line up to pay $8 for beans and rice.......

Fri, 07/20/2012 - 13:54 | 2636948 Dan Conway
Dan Conway's picture

Has anyone ever noticed the only mexicans in a chipoltly are working in the back?  I have never seen a mexican eat there.  The hole in the wall taco joint in my neighborhood is much better than chipotly. 

Fri, 07/20/2012 - 14:35 | 2637147 Temporalist
Temporalist's picture

That is because home cooking is made with love and fast food is made with disdain.

Fri, 07/20/2012 - 13:47 | 2636915 Meesohaawnee
Meesohaawnee's picture

and just like that Jobs report everyone gets their panites in a bunch over every beginning of the month. In three weeks it will be all forgotten just like the above mentioned. Just a trade today.. move along children. No problems here.

Fri, 07/20/2012 - 13:33 | 2636863 El Oregonian
El Oregonian's picture

Chipotle just got "facebooked".

Fri, 07/20/2012 - 13:36 | 2636878 otto skorzeny
otto skorzeny's picture

actually- if you bought CMG a while ago you are still up a ton of $-if you bough FB at the initial offering-not so much.

Fri, 07/20/2012 - 13:21 | 2636801 Squid Vicious
Squid Vicious's picture

Cramer should have his face lathered with a fully loaded burrito for being bullish on this POS all the way to the bitter end....

Fri, 07/20/2012 - 13:21 | 2636798 MillionDollarBoner_
MillionDollarBoner_'s picture

Did Buffet ever own this?

Fri, 07/20/2012 - 13:04 | 2636714 OsirisIsABlackGod
OsirisIsABlackGod's picture

I think I might eat at chipotle tonight just to be vindictive.

Fri, 07/20/2012 - 13:25 | 2636815 covert
Fri, 07/20/2012 - 13:34 | 2636868 otto skorzeny
otto skorzeny's picture

actually banning gays and making the fat sweathog soccer moms that live by me wear headscarves sounds pretty good- how can i get Sharia Law in my town? how bout Jews and "People of Color"? can we also eliminate women from driving?

Fri, 07/20/2012 - 13:03 | 2636709 Shizzmoney
Shizzmoney's picture

The food is good; it's just that actual Mexian food is better.

Fri, 07/20/2012 - 13:03 | 2636707 mrktwtch2
mrktwtch2's picture

yo quiero taco bell!!

Fri, 07/20/2012 - 13:09 | 2636735 otto skorzeny
otto skorzeny's picture

i prefer taco bell over ANY mexican food(all overpriced slop- $13 a plate for some variation of a tortilla smothered in beans and meat-type stuff and lettuce))

Fri, 07/20/2012 - 13:39 | 2636890 cesarsp_us
cesarsp_us's picture

i prefer any Mexican food over CHUNKY Bell

Fri, 07/20/2012 - 14:34 | 2637141 Temporalist
Temporalist's picture

I prefer pink slime and corn syrup to all other foods

Fri, 07/20/2012 - 13:00 | 2636689 PicassoInActions
PicassoInActions's picture

don't worry, in a few month here in South Florida we get another mexican chain. One crap of food will substitude another.

Fri, 07/20/2012 - 12:48 | 2636636 There is No Spoon
There is No Spoon's picture

justice? it's just a stock, take emotions out of trading.

Fri, 07/20/2012 - 13:31 | 2636848 otto skorzeny
otto skorzeny's picture

if you LIKE a stock -does that not mean some emotion has been elicited? emotion is the driving force behind ALL human actions- and that holds true for our manipulated markets

Sat, 07/21/2012 - 06:32 | 2638541 Colonial Intent
Colonial Intent's picture

To use a name that was a nazi war criminal wanted for murdering  american prisoners in ww2 is really sick dude.

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