Chipotle Stock Falls to Key Support After Food Scare

Chipotle Mexican Grill, Inc. shares have fallen more than 7% since Wednesday after another report of foodborne illness in Los Angeles. Business Insider broke the story of an investigation by the Los Angeles Department of Health following several reports of vomiting, diarrhea and nausea at the Pico Boulevard location. The reports were initially filed by consumers on IWasPoisoned.com, which tracks food illness outbreaks.

Chipotle responded by saying that it was aware of the reports on a user-generated reporting site, but the company pointed out that there was no clinical validation associated with the reports and that it has not been contacted directly by the consumers to substantiate the claims. The food company’s stock has been extremely volatile surrounding food illness reports following a prolonged food safety crisis in 2015 and follow-on outbreaks over the years. (See also: Chipotle: Rise and Fall of a Wall Street Darling.)

 

Chipotle shares fell sharply lower after another food scare hit the stock, but traders will be watching these key levels. …read more

Read more here: Chipotle Stock Falls to Key Support After Food Scare

Category: CMG

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