Below is a note from CEO Keith McCullough on why we're removing Chipotle (CMG) from Investing Ideas today:
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The mistake I made here was I should have sold everything (instead of leaving one "growth" thing) and I did not. So, when I make a mistake like that, I try to not make the 2nd one and sell on a big market down day with the stock at the low-end of the range. Instead, I wait for the bounce and sell gross long exposure on a green day. Quad 4 in Q4 remains our Macro call. That’s very bearish for most of the Momentum, High Beta, and Growth Factor Exposures that are bouncing to lower-highs within Bearish @Hedgeye TRENDs today. KM |
***No change to Restaurants analyst Howard Penney's fundamental long thesis on Chipotle (CMG). Click here to read our analyst's original report.
