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Chipotle Mexican Grill, Inc. (NYSE:CMG) shares are trading lower by $6.40 (1.3 percent) at $672.69 in Monday's session.
The stock had traded higher in its last three sessions and in its six of its last seven trading sessions. Over that course of time, it has rallied from its April 11 close ($453.00) to as high as $483.50 last Wednesday.
For the year, Chipotle's stock has had an excellent relative performance gaining nearly 28 percent from its year close ($377.72) to its peak last week at $483.50.
After a higher open, it moved only $0.07 to $482.82 before sharply reversing course. That high comes in just above a pair of highs from last Wednesday ($481.77) and Friday ($481.99) and less than a dollar shy of its recent high.
The ensuing decline accelerated once it breached its April 19 low ($473.00). Eventually it found support above its April 18 low ($464.14) at $465.20 and rebounded back into the upper $472.00 handle.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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