Investors aren’t too fond of Chipotle (CMG) these days…
In fact, many aren’t too quick to catch the falling knife…
After a 34% drop from October 2015 highs, shares just below $500 – its lowest since May 2014. Unless it can find support here, it could easily plunge well under $450 a share near-term on the latest E. Coli fears.
The CDC announced just this week that it’s investigating more recent outbreaks of a different strain of E. Coli. Five people reportedly fell ill. In October, an outbreak led to 20 people being hospitalized.
Headlines may cause further damage, keeping customers away from the stores. Lack of visibility at the moment makes it tough to call a bottom in the stock. Fear may send it much lower… But one thing we do know is this – once this blows over, we’ll look for a significant rebound off lows.
For similar opportunities, join us at Rapid Retirement System right here: https://traderinsight.com/premium-services/rapid-retirement-system/
