Sometimes you simply have to listen to the price charts and shut out the noise of bearish talking heads within the canyons of Wall Street. Over the past couple years, that has more or less been the case with fresh-fast Mexican food chain Chipotle Mexican Grill (NYSE:CMG)
As most anyone with a passing interest in the stock market knows, bearish operators and Wall Street’s analyst community were fairly relentless in grilling CMG stock bulls following the company’s well-publicized food scares, presuming the death of the Chipotle brand with consumers.
But time typically heals most wounds on Wall Street. CMG stock has proven no exception.
After a painful couple years, profits and sales saw a new, healthier trend emerge, while Chipotle shares soared back more than 45% in 2018 compared to an indigestion-producing down year for the broader market.
Changes to health protocols and management, as well as forgetting (or at least forgiving) investors and aggressive marketing campaigns, all but proved Chipotle is back and here to stay. And despite last year’s enviable rally, the CMG stock chart is serving up a very bullish picture strongly suggesting the best is yet to come…
