$CMG is down another 6% today, and trending over on the stocktwits board. The company had a downbeat outlook slashing future earnings and noting higher than expected operating costs due to marketing.
Due to margin pressure in the second quarter the stock is down 31 points today, down 70 from it’s high back in May. With the stock trading back down to the 200 day moving average, are you a buyer here on this dip?
__
Long term, I think you will win in the end with $CMG. Short term, I think $CMG still has a few bumps in the road as evident by its latest update. I’m expecting to see some buyers show up at the 200 day, only to be washed away as we fall back below $400. I’ll gain interest sub $400.
Long live Burritos.
If you enjoy the content at iBankCoin, please follow us on Twitter
granted, my sample size is only like 4-5 restaurant locations, but the traffic is gone….lines out the door are now maybe a handful of people.