Why Chipotle Stock Jumped Again Today
Shares of Chipotle Mexican Grill (NYSE: CMG) were climbing today for the second day in a row, as the market seemed to rebalance after investors bought back consumer discretionary names -- including restaurant stocks that have been hit hard in recent weeks -- and sold off consumer staples and defensive stocks that have outperformed during the crisis.
Though there was no specific news out on Chipotle, investors seemed to believe that solid restaurant stocks like Chipotle will eventually bounce back from the crisis and see them as oversold for now. Shares of the burrito chain were up 6% as of 12:21 p.m. EDT.
Image source: Chipotle.
Source Fool.com
