Chipotle is overpriced and quality is trash. Recently I bought some for my friends and we ended up with food poisoning. I believe it is only a matter of time before another large food poisoning outbreak happens like in 2015 and 2018. Also, the manager at the chipotle would charge us extra chicken when we asked for just a little more. The employees at that location would spill some of each vegetable or protein all over the counter mixing everything. Adding on, the recent free bowls and burrito promotions show that their foot traffic is declining. I believe that earnings on July 29th will be way lower than expected and it will go to $13 a share EOY.
Position: Shorting 300 shares on Monday along with 9/18 $30 strike puts. Will consider shorting more as I visit Chipotle locations locally and observing foot traffic.