Chipotle Mexican Grill Inc on Monday reported another acceleration in quarterly restaurant sales growth, but shares in the popular burrito seller tumbled almost 5 percent after it signaled that such momentum can't last forever.Denver-based Chipotle for years has appeared to defy gravity with its recipe of premium organic and natural food that bucks the trend toward ever-cheaper fast-food.But it's not just about the burritos, investors are fans of its uncanny ability to squeeze ever more sales from its restaurants without adding extra staff. Still, many on Wall Street expected Chipotle's red-hot run to eventually cool."It's completely unrealistic to expect they can maintain 20 percent (same-restaurant sales growth) indefinitely," Investment Technology Group restaurant analyst Steve West said.
Chipotle Mexican Grill, Inc. (Chipotle) operates Chipotle Mexican Grill restaurants. Shares of CMG traded higher by 1.76% or $11.3101/share to $653.03. In the past year, the shares have traded as low as $472.41 and as high as $697.93. On average, 417068 shares of CMG exchange hands on a given day and today's volume is recorded at 1216053.
Investment Technology Group, Inc. (ITG), is an independent execution and research broker that partners with global portfolio managers and traders to provide data-driven insights throughout the investment process. Shares of ITG remained unchanged at $16.29. In the past year, the shares have traded as low as $14.65 and as high as $20.87. On average, 251164 shares of ITG exchange hands on a given day and today's volume is recorded at 233766.
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