The stock market has been positive overall this summer, but as is always the case, there are laggards who miss the rallies. One of the uglier showings of the past three months comes courtesy of a fast-food chain that finds itself in the news this week for a PR misstep.
That would be Chipotle (CMG), whose shares, FactSet data show, have fallen 26.6% since the close on Friday, May 25, the last trading session before the unofficial beginning of summer.
Most of what's responsible for the burrito seller's drop actually occurred in July, when a sales shortfall sent the stock plunging more than 20% in a single session. Trouble is, it hasn't recovered. From its levels above $400 at the end of May, Chipotle's stock is now around $293.
Shareholders who've been holding on aren't the only people who are irritated. It turns out customers at certain restaurants are grumbling, too. That's because of reports that in some markets, Chipotle has been rounding the bill by a few pennies here and thereRead More »from Cruel Summer for Chipotle, but Sprint Nextel Shines