Chipotle Stock Headed for Worst Day Since 2017
Chipotle Mexican Grill(CMG) Schaeffers Investment Research·2024-08-13 22:30
Chipotle Mexican Grill Inc (NYSE:CMG) stock is sliding today, down 12.8% at $48.73 at last look, after news that Starbucks (SBUX) is replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol. Chipotle has appointed COO Scott Boatwright as interim chief executive amid the abrupt c-suite shakeup.For context, Starbucks struggled in recent quarters, seeing pressure from slower demand in the U.S. and China. As Niccol had an extremely successful stint at Chipotle -- even through the pandemic -- with shares u ...