Chipotle earnings coming up. They describe the consumer as resilient. That's code for "people willing to pay our hiked up prices".
Haven't been to one in over a year after seeing a single burrito bowl going for $20.
Chipolte beat, shares back at all time high of $3,023 each. I like reading about company histories on Wikipedia sometimes. Here is a fun fact:
If it were not for McDonald's large investment and perhaps professional guidance to help them expand greatly prior to the 2006 IPO, who knows if Chipolte would have been anywhere near its current market cap of $80 BILLION dollars.
....with that in mind...
McDonalds sold their stake a few months after the 2006 IPO, turning $360M into $1.5B thinking they were pretty smart...had they held their investment until today (18 years later), that $1.5B would now be worth $77 BILLION dollars! (51x higher)
Thats a lot pesos for a burrito maker!
...and...
The current market cap McDonalds is only $200B. It would be 33% higher just on the CMG shares alone. MCD shares are only up 10x (not including dividends) vs CMG 51x since 2006. But then, who would have thought back in 2006 that burritos would be such a growth business even with several E.Coli scares!