Why is Chipotle (CMG) Stock Down Today?
Just when we thought the worst was over, things have taken a turn for the worse for Chipotle Mexican Grill CMG.
On Wednesday, shares are dropping over 3.5% in morning trading after news broke that the company shut one of its restaurants in Massachusetts when four employees got sick.
According to a report by Bloomberg, the Chipotle restaurant, located in the town Billerica outside of Boston, was closed for a full cleaning, company spokesman Chris Arnold told the news outlet in an email.
“The Massachusetts health department confirmed that the restaurant was closed voluntarily and that there were no known ill customers,” Bloomberg continues.
Arnold also said that it was unclear if the sick employees had norovirus. “Any employees who reported feeling ill will be tested and held out of the restaurant until they fully recover,” he continued.
Chipotle is still struggling to recover from the E.Coli and norovirus outbreak that hit multiple restaurant locations last year. Its stock has declined 20% through the 12 months ended Tuesday.
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