Chipotle (CMG) — Muy Caliente
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Ay Carumba — Chipotle Mexican Grill Inc. (CMG) went crazy today — up 13% to $67.05 a share. The earnings beat forecasts by a long shot — 26 cents a share for the first quarter, while 12 cents a share was the consensus.
I love Chipotle — the food, that is. The price of the stock scares me. It scared me when it doubled the day of its IPO right out of the gate. It’s gone up another 60% since then.
I really have no clue what people see in stocks that trade at over 60 times earnings. It doesn’t compute. But I’m the stupid one on the sidelines missing out on a 200%+ gain so far.
I’d consider buying at $10 or maybe $12. But then again, I’m a bottom feeder! 
