Thursday, October 18, 2012

Chipotle Falls Hard on Earnings Miss

$CMG down 12℅ ah on earnings miss. Don't blame me, because I eat a lot of burrito bowls there. And they have actually been raising prices to offset higher commodity prices and labor costs. Or so we thought. 

So we are seeing some poor earnings results and even more layoffs.  I wondered earlier if all the poor expectations about a bad third quarter earnings season was a contrarian indicator or not.

Maybe not. Maybe the crowd got that one right.

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