Chipotle Plummets After Elusive Comeback Shakes Confidence
- It’s still suffering fallout from foodborne-illness outbreaks
- Disappointing sales send the stock tumbling anew on Wednesday
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Chipotle Mexican Grill Inc. shares plunged the most in almost a year after disappointing third-quarter sales shook investor confidence that it can recover from the biggest crisis in its history.
The burrito chain posted a same-store sales drop of 21.9 percent in the period, worse than the 18.7 percent decrease projected by analysts. That sent the shares down as much as 10 percent to $364.20 on Wednesday in New York, the biggest intraday decline since November 2015.