Chipotle Shares Continue To Plunge After Hours Amid Boston College E. Coli Scare
Shares of Chipotle Mexican Grill, Inc. (NYSE: CMG) fell more than $25 in Monday's post-market session following yet another report of an E. coli outbreak.
According to a recent post on a Boston College Eagles community site, BC Interruption, eight Boston College basketball players are now feeling the effects of E. coli-related sickness, seemingly after eating at Chipotle.
Boston College Senior Associate Director of Sports Medicine, Donna Bennett, as shown in the BC Interruption article, quickly sent an "immediate warning" to appropriate parties urging them not to eat at Chipotle. The campus-wide email to all athletes suggested a number of people on campus were struck sick from E. coli after eating at the Chipotle in Cleveland Circle.
After closing Monday down 1.5 percent at $552.79, shares of Chipotle were trading down nearly 5 percent to around $526 in the after-hours session. The stock has lost about a quarter of its value since early October, when E. coli fears were first reported.
UPDATE: The outbreak has now been reportedly linked to the norovirus. The company says it thinks the illnesses are an isolated incident unrelated to a multi-state outbreak of E. coli cases linked to its restaurants. "All of the evidence we have points in that direction," said Chipotle spokesman Chris Arnold.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.