Chipotle's stock price is down, but in a stock split, that's not a bad thing.
Chipotle Mexican Grill shares are down about 2% in Wednesday trading after the burrito chain’s first stock split since its debut on the New York Stock Exchange nearly two decades ago. The 50-for-one split increased the number of shares outstanding by that factor, but the share price was adjusted to one-50th of its pre-split value as of Tuesday’s close, at $3,283.04. Chipotle’s shares will trade at $65.66 on a post-split basis when the market opens on Wednesday.
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