Chipotle Mexican Grill, Inc. CMG shares are trading lower by $6.87 (1.7 percent) at $399.00 in Tuesday's session. A catalyst for the decline, besides weakness in the broad market, may be comments from Deutshce Bank's Brett Levy.
His thesis on the stock indicates investors were "largely negative" or have a "concerned bias" on shares. The tainted view of the company is the direct result a multiple heath concerns at its restaurants in late 2015 and 2016.
After multiple attempts to clear the $450.00 area since June, Chipotle's stock keeps reverting back to the $400.00 area. In today's session, it peaked at its lower-opening print of $404.85 and has continued lower.
At this time, it's finding intra-day support ahead of the pair of lows from February 6 ($395.08) and February 7 ($395.72) as the current low for the day stands at $397.81.
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