Posted 3/19/2024, 11:28:00 PM
Chipotle Plans 50-for-1 Stock Split, Seeks to Make Shares Cheaper to Investors After Hitting Record Highs
- Chipotle's board has approved a 50-for-1 stock split to be voted on at annual meeting on June 16
- Chipotle stock rose 4.4% in late trading following the announcement
- Stock splits can sometimes spur buying as investors see the stock as "cheaper"
- A 50-for-1 split is unusually large compared to recent splits like Alphabet's 20-for-1
- Chipotle shares hit a record close on Tuesday ahead of the split announcement
