Chipotle Mexican Grill’s (NYSE: CMG) share price plunged by more than 10% following its fiscal Q2 release, opening what can only be called a smoking hot entry point. The price plunge was sparked by weak comparable store sales, a problem to be sure, but one tied to macroeconomic conditions and a consumer pullback, rather than fundamental operating conditions.
As MarketBeat analyst Chris Markoch likes to put it, weak comps are akin to insider selling; they provide a reason for those who want to sell.
