Chipotle Announces 50-for-1 Stock Split After Strong 2023 Results

Chipotle announced a 50-for-1 stock split, one of the biggest in NYSE history, subject to shareholder approval on June 6
Stock split means investors get 50 shares at $56 each for every 1 share currently trading around $2,800; total value doesn't change
Stock splits can create short-term investor excitement and increased demand, but long-term performance depends on business results
Chipotle's 2023 financial results were strong - revenue up 14%, EPS up 38%, comps up 7.9%
Other growth drivers include new Chipotlanes, digital orders up to 37% of sales, and rewards program with 36M+ members