Chipotle Shares Are Going Bonkers
Oct 18, 2013, 23:20 IST
Chipotle shares were up nearly 15% in Friday trading.
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CEO Steve Elss said in his earnings call Thursday the company plans to raise prices between 3% and 5% as it eliminates genetically modified organisms from its menu.
They also had a nice beat on Q3 revenues, and saw net income rise more than 15%.
And they forecast that nearly 200 new restaurants could open next year, up from a max of 180 this year.
David Einhorn is not going to be thrilled.
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The Greenlight Capital chief devoted a huge chunk of his latest note to investors explaining why he thinks Chipotle is a good short.
And a note from Goldman earlier this week saying the company was losing its "It factor."
For now, defiance.