Chipotle stock is up 47% year to date ahead of its first-ever stock split.
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Chipotle Mexican Grill shares rose 2.8% on Tuesday as the burrito chain prepares for the first stock split since its debut on the New York Stock Exchange nearly two decades ago. The 50-for-one split will increase the number of shares outstanding by that factor, but the share price will be adjusted to one-50th of its pre-split value as of Tuesday’s close, at $3,283.04. Chipotle’s shares will trade at $65.66 on a post-split basis when the market opens on Wednesday.