Market News / Story
Why Is Chipotle (CMG) Stock Rocketing Higher Today
Stock Story ·
Stock Story reports: What Happened? Shares of mexican fast-food chain Chipotle jumped 6% in the afternoon session after Financial Times reported, citing people familiar with the matter, that Starbucks has explored a takeover of the company. The Financial Times reported that Starbucks worked with advisers in recent months on a proposal for Chipotle, which has a market value of nearly $39 billion. A deal would reunite Starbucks chief executive Brian Niccol with the chain he led for six years…