Shares of fast-casual restaurant chain Chipotle Mexican Grill Inc (NASDAQ:CMG) are up Tuesday after the company’s board authorized $500 million in stock repurchases, increasing its total authorization to $750 million.
What To Know: Chipotle’s board approved a tripling of its stock buyback, adding $500 million to its total authorization. The company noted that it normally announces buybacks when it reports third-quarter results, but decided to announce the additional authorization early “to be in a position to opportunistically repurchase shares.”
