Goldman's Muppet Slaying Resumes, Removes Momo Darling Chipotle From "Conviction Buy" List

Tyler Durden's picture

Following the release of ugly earnings, Chipotle has finally been reacquainted with reality (down 18%), and the stock that has long been a darling of momo "investors" everywhere, because in a reflexive broken market, a stock is worth not a penny less than what the previous biggest fool is willing to pay for it, is getting decimated. Naturally, adding insult to muppet monkeyhammering, here is Goldman Sachs who decide to, after the fact, drop CMG from its conviction buy list.

CMG is down 20% from yesterday's close...


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GetZeeGold's picture



Nominated for best title.....EVER!!!


slaughterer's picture

Next in the sector to be muppet slayed: BWLD.  Get your shorts on.

Jay Gould Esq.'s picture

Tyler, CMG certainly qualifies for another "roach motel" roster of major holders.

In the Top Ten: State Street; BlackRock; and of course, "Retail's" Wrong Way Corrigan of momentum stocks, Fidelity.

WestVillageIdiot's picture

This was certainly one that you knew was coming.  The problem, as always, is timing.  Just think how many little kids didn't get that Gi Joe with the Kung Fu grip because daddy was shorting this stock too early.  Instead they got a hand-me-down Barbie doll from their big sister Briana. 

You just had to look around to see what was going on with Chipotle.  I use southern Manhattan as an example.  I believe their first location was the Maiden Lane locaiton.  ON a Friday it would be packed at 6 p.m.  Two years later the line was shorter than the average American attention span.  Locations started popping up all over the place.  I think they have multiple spots on Broadway.  I believe they had another one on the east side.  And quality started going down. 

The writing was on the wall.  How could a burrito joint have a market cap of $15 billion?  That's as insane as a yoga store being valued at $10 billion.  All of the darlings go, sooner or later.  I'm looking at you, Netflix and Green Mountain.   It's just a matter of how many testicles you still have dangling when they finally meet their true "value".  Now I better go get my Crox on so I can do some shopping on 

Pladizow's picture

Wheres that idiot ROBOTRADER who just yesterday was posting the virtues of CMG, now down 24%!

LongSoupLine's picture


Just wait 'till AlgoMart...errr, I mean Walmart, gets the red hot anal iron momo beatdown.

Id fight Gandhi's picture

About time. Crashing in pre market.

spanish inquisition's picture

Took a while to get the prop desk positioned.

WestVillageIdiot's picture

Has anybody seen Robo?  I hope he's not doing his David Carradine impersonation.

slaughterer's picture

With the spike in corn prices, CMG margins just went negative. 

adr's picture

I'm just waiting for the ChiChi's moment where a few people die after eating tainted food. Some people probably already have. My old girlfriend got violently ill after eating a burrito bowl. I haven't eaten at Chipotle for years. Nearly every one by me is staffed by mexicans that look like they just jumped the border.

Do you really want a burrito made by a guy that just took a shit and wiped it with his hand, and of course didn't wash?

GetZeeGold's picture



Does it come with free fried ice cream?



WestVillageIdiot's picture

Throw in some t-shirts for the kids, and a Corona Light, and I'm there.

Clueless Economist's picture

Jim Cramer is not worried about Dirty Mexicans making him ill or dead. 

Just a few days ago he said CMG was a huge buy, because the Chipolte in Short Hills NJ near his home was packed with lines out the door.

He says that the dozens of minimum wage jobs were spurring the economy into a huge recovery.


Carl Spackler's picture

Only in NJ, I guess, do people not tire of being fed over-prices pink slime in their fast food.

WestVillageIdiot's picture

Short Hills, NJ - There has never been a more wretched hive of scum and villainy.

asteroids's picture

I used to work in the area 20 years ago and had lunch there all the time. But, seriously, with 50million people of food stamps it was kind of of obvious that this pig of a stock was waiting to implode.

LongSoupLine's picture

yeah right, because Short Hills, (not to be confused with Short Bus) as a residential meca for Wall Street trash, is a great national indicator for a retail operation.

Fuck you Cramer, you ball sack with a neck.

WestVillageIdiot's picture

I think most of the CNBC twats live in Short Hills.  No-fucking-thank you.

otto skorzeny's picture

I love taint food- and the "meat" @ Chip is not fit to feed a manged mutt

ZeroAvatar's picture

Wow!  A true 'taint liker'!

sunnydays's picture

I love Chipotle. The food is excellent and it is all non hormone meats, dairy and cheeses. They buy local and they are a quality company. It is not junk food. I eat at one often.

adr's picture

Only the pork is hormone free. The dairy and cheese is only hormone free in some locations. Chipotle can't guarantee all of its suppliers give them hormone free products. You need to read the small print, it says they use organic products where available.

They buy local if you count a certain vicinity to the corporate headquarters. Chipolte is junk food just as much as any fast food restaurant. They have been able to brainwash people into believing they are somehow different. Jim Cramer having orgasms talking about the company didn't help.

Oh yeah, the brown beans are not vegetarian. They have pork drippings in them. I loved seeing vegetarians ordering a bean and rice bowl, then cluing them into that fact. They ask the people behind the counter, and they say, "Yeah the brown beans aren't vegetarian, black ones are."

otto skorzeny's picture

 something about the way they slop the refried beans on with that big flat spoon reminds me of the chow line in jail.

madridisburning's picture

nothing gets the green around here like the racism card. pathetic.

mick_richfield's picture

How many deliberately false "Conviction Buys" does it take,

before they have bought themselves a conviction?

Taterboy's picture

Goldman Conviction Buy List now called, Oops Never Mind List.

Disenchanted's picture



I'm waiting for the Goldman Conviction the legal news section.

azzhatter's picture

Another big Cramer buy buy buy bites the dust

buzzsaw99's picture

you fucked up, you trusted us [/otter]

Al Huxley's picture

Wow, a day fucking late on that one, weren't they!  Funny - 'downgraded to Neutral'.  We feel that a 20% drop pre-market may hinder prospects for capital appreciation in the short term, but still think the company has a future longer-term, at least until Americans run out of money to buy food with'.

Richard Head's picture

That idiotic fake trader Robo is gonna have to find a new stock to pump.

GetZeeGold's picture



Just close your eyes and point.


GOT ONE!!!!!


the not so mighty maximiza's picture

He will push the Cheeburger Cheeburgeer IPO, 5 pound burgers is Robos favorite.

adr's picture

Cheeburger is going public? Really?

Add another one to the stock scam list.

the not so mighty maximiza's picture

naa i made that shit up


tmosley's picture

Yeah, he must have sold it before it went down.


viahj's picture

knowing RT, he loaded his shorts

ZeroAvatar's picture

Cue the 'tarder:  " Oh yeah I loaded up on Kayak just before the IPO and made a bazillion".  (In my imaginary pretend Investopedia account)

adr's picture

I just saw the awesomeness on the ticker. Chipotle just hit a Fuckerberg, the captain doesn't think there is any damage.

Still the stock is at least 70% overvalued, so it has a lot further to fall.

the not so mighty maximiza's picture

Turn on taco algo machines STAT!!!

Mr Lennon Hendrix's picture

Goldmn Sachs the Muppet Slayer

firstdivision's picture

That means Goldman is not buying as much CMG as possible.

Dan Conway's picture

Goldman insiders propbably sold their CMG in the last month when one of their "birdies" told them sales were slowing down. 

Yen Cross's picture

 The Squid has had it's fill of cheap burritoes ?