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