Cramer Sends Chipotle South of the Border (CMG)
October 11, 2007 by Douglas A. McIntyreOn tonight’s Thursday SELL BLOCK feature on CNBC’s MAD MONEY, Jim Cramer said the time has come to sell Chipotle (NYSE:CMG) after he’s been behind it for what feels like forever. Cramer said he loves the food and loves the company, but he can’t like the stock amymore up at $129.00. He thinks this trading at too high of a multiple and the first hint of a hiccup will generate a big correction. Even if it runs another $20.00, he’d rather be out. He acknowledged that the growth rate could go up and that it could outperform, but he’d be out and he has his limits. "Sell and if it goes lower you can revisit……" but it’s too high. Shares fell 2% at $126.37 after-hours.
Jon C. Ogg
October 11, 2007
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