Chipotle Mexican Grill, Inc. (CMG) saw its stock price rise by 1.15% to close at $62.71 on November 26, 2024, up from the previous close of $62.00. The stock opened at $62.07 and reached a high of $62.74 during the trading session, with a volume of 5,206,609 shares, which is about 51.30% of its average daily volume. The upward movement in CMG's stock price today appears to be driven by significant institutional interest, as evidenced by recent filings. Notably, Bank of Montreal Can increased its stake in Chipotle by 56.0% during the third quarter, now holding 2,214,126 shares valued at approximately $126,958,000. Additionally, Eagle Asset Management Inc. acquired a new position in the company, purchasing 39,358 shares valued at around $2,315,000.
Despite the positive price action, discussions on social media platforms like Reddit highlighted concerns over potential tariffs against Mexico and Canada, which could impact Chipotle's supply chain, particularly affecting avocado costs. These discussions, however, did not seem to significantly deter investor sentiment today.