Minnesota Probes Salmonella Outbreak Linked to Chipotle; 75 of 84 Sickened Ate There
CMG sits 24% above its 52-week low of $28.035.
Summary
A Minnesota health department investigation has tied a Salmonella Javiana outbreak to Mexican-style quick-service restaurants, with jalapeños as the suspected vehicle. Of 84 interviewed cases, 75 reported eating at Chipotle, making it the dominant common exposure. The outbreak has already sickened 110 people, and officials expect the count to rise. Chipotle shares were hammered as the outbreak triggered the removal of jalapeños. This is a fresh food safety crisis for Chipotle, which has a history of high-profile outbreaks that crushed sales and the stock. The company is cooperating fully, but the investigation is in early stages and it's unclear if the outbreak is ongoing.
At the time of this announcement, CMG was trading at $34.75 on NYSE in the Trade & Services sector, with a market capitalization of approximately $44B. The 52-week trading range was $28.04 to $44.27. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Reuters.