Shares of Chipotle Mexican Grill Inc., more than doubled in price by midday Thursday in their trading debut on theNew York Stock Exchange.
The shares in the initial public offering were priced at $22 a share Wednesday evening, but surged $23.10 to $45.10 in midday trading on the NYSE.
Sucky. Well, good news for Chipotle and the new owners of Chipotle, but for us that are happy with Chipotle the way it is, it sucks.
Why? Because now thousands of people will be telling Chipotle how to maximize profits and minimize losses. Losses such as a free burrito on Halloween and free drinks when the line gets too long...
Nothing ever gets better for consumers when a good company opens itself up to the money hungry stock exchange. Nothing.