Million

Billion

<p>Chipotle Mexican Grill Inc. (NYSE: CMG) is among the companies which hold significant interest from people in contrast to the general unenthusiastic perspective towards the restaurant companies. The growth that the American fast food company saw in the years since its initial public offering (IPO) is still an aspiration of many companies.&nbsp;</p> 
<p>Following the positive earnings report for Q1 2023, the uptrend in Chipotle stock price got another boost. Chipotle reported a revenue of $2.4 Billion for the quarter with an increase of over 17% year over year. The earnings per share (EPS) remained at $10.50 per share making the net income rise to $291.6 Million and marking an 84% increase.&nbsp;</p> 
<p>The increase in the company’s comparable restaurant sales over 10% resulted in revenue swelling, in comparison to previous levels. The operating margin of Chipotle also rose from 9.4% to 15.5% year over year.&nbsp;</p> 
<p>During the time, Chipotle opened 41 new restaurants across 34 different locations. Furthermore, it repurchased stocks worth $131.6 Million in the similar time frame, as the company press release noted.&nbsp;</p> 
<h1 class="wp-block-heading" id="strong-chipotle-stepping-towards-automation-with-autocado-strong"><strong>Chipotle Stepping Towards Automation with Autocado&nbsp;</strong></h1> 
<p>Chipotle continues to thrive in new ventures. Recently, the company is reportedly planning to move ahead with the robotization of some tedious tasks at the fast food company restaurants. It has designed a robot named Autocado with the purpose of smoothing out the process of preparing guacamole.&nbsp;</p> 
<p>According to the company, on an average it could take about 50 minutes for its employees to prepare guacamole. The process includes the cutting, core removal, and peeling of avocados, and then, carefully disposing off the food waste. Autocado is said to take care of the time consuming process of pre-preparing. Once the process is completed by the robot, all that the employees need to do is mash the avocado and add the ingredients for making guacamole.&nbsp;</p> 
<p>Chipotle collaborated with food industry robotics startup company, Vebu Labs. The former invested in the startup from some portion of its Cultivate Next venture fund of $50 Million. The step from the fast food company came in the wake of making the process more efficient at its outlets worldwide. Currently, Autocado is deployed at a kitchen site in Irvine, California for testing prior to a full scale.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-chipotle-cmg-stock-price-movement-strong"><strong>Chipotle (CMG) Stock Price Movement&nbsp;</strong></h2> 
<p>Following the earnings result reported in April, CMG stock price shot up creating a positive gap. The volume saw a sharp increase to support the price movement and rose from $1,800 to over $2,000.&nbsp;</p> 
<p>Since then for over two months, Chipotle stock price is consolidating to create a strong base for the upcoming potential up move. The <a href="https://www.thecoinrepublic.com/2023/07/12/general-mills-stock-positive-indicators-and-mixed-ratings/" rel="noopener noreferrer nofollow">stock price</a> is above the moving averages for about four months and the gap between the 50- and 200-day EMA has broadened consistently.&nbsp;</p> 
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  <img decoding="async" loading="lazy" width="1024" height="439" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/07/image-154-1024x439.png" alt="Chipotle Stock Price Attains ATH Over $2100; Continues Uptrend" class="wp-image-152787" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/07/image-154-1024x439.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/image-154-300x129.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/image-154-768x329.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/image-154-1536x659.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/image-154-750x322.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/image-154-1140x489.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/07/image-154.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    source: TradingView 
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 </figure> 
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<p>Chipotle stock price holds an immediate support at $2,000 while $1,800 stays the strong support. MACD is likely to witness a crossover and RSI is at 62, both signaling positive signs. If it continues the uptrend, CMG stock is likely to achieve $2,200.</p> 
<p>Currently, CMG stock is at $2,153 after attaining an all-time high of $2,173 during the intraday trading session on Tuesday, July 18, 2023. The stock price is 57% up since the start of this year.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Chipotle Stock Price Attains ATH Over $2100; Continues Uptrend

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