In this April 23, 2018, file photo, the logo for Chipotle appears above a trading post on the floor of the New York Stock Exchange) were up nearly 6% at $2960 premarket on Wednesday after the burrito chain’s board approved a 50-for-1 stock split as the company looks to make the stock less expensive for potential investors.
If the split is approved at the upcoming annual meeting on June 6, Chipotle’s shareholders will receive an additional 49 shares for each share held. Based on Tuesday’s closing price, the stock would trade at around $56/share after the split. The company has around 27.4 million shares outstanding.
Source: News Formal (newsformal.com)
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