Chipotle Stock Is Too Pricey at Its New All-Time High

On Tuesday afternoon, Chipotle Mexican Grill (NYSE: CMG) reported another quarter of stellar growth in comparable restaurant sales. This caused the company's earnings per share to continue rising at a torrid pace.

Investors responded enthusiastically. In fact, Chipotle stock hit a new all-time high of $789.50 on Wednesday, up more than 200% from the multiyear low reached in early 2018, just before the company announced Brian Niccol as its next CEO.

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