Chipotle’s Planned 50-to-1 Split Unites Bulls and Burrito Lovers
- Fast-food chain’s proposed split is among largest ever
- Splits back in vogue as rally puts shares out of retail reach
A Chipotle restaurant in New York.
Photographer: Angus Mordant/BloombergThis article is for subscribers only.
Chipotle Mexican Grill Inc.’s historic stock-split proposal spotlights the enormity of this year’s bull run by showing the lengths the fast-food chain must go to bring its shares within reach of those who enjoy its affordable burritos.
The 50-to-1 split announced on Tuesday will be one of the largest ever on the New York Stock Exchange if shareholders approve it at Chipotle’s annual meeting on June 6, the California-based company said. If it’s agreed to, the stock will begin trading on a post-split basis on June 26.