Just last night Stockspotter posted an exit signal for Chipotle Mexican Grill (CMG) after being long the stock for 7 days. This trade earned a postive gain of 4.32%. I’ve really liked this stock in the past; especially considering they’re in development of an Asian themed restaurant. Their shares have doubled in value over the last year and traded as high as $289.35 in April. However, I am a bit concerned about their hiring practices as their shares have been slipping as more reports of the U.S. government’s investigating their possible hiring of illegal immigrants. This new development, coupled with stockspotter no longer recommending a long position, is enough for me to suggest caution while trading this stock.
Additional Company Info: Chipotle Mexican Grill, Inc. develops and operates fast-casual, fresh Mexican food restaurants in the United States. It also operates restaurants in Toronto, Canada and in London, the United Kingdom. As of December 31, 2010, it operated 1,084 restaurants.