Today’s stock is riding high on strong digital sales…
The pandemic forced many restaurants to “go digital” when in-person dining shut down. And while folks ordered food online before COVID-19, research shows online orders are still growing, even as in-store dining recovers.
That means restaurants with a strong digital presence will benefit. Today’s company is thriving already…
Chipotle Mexican Grill (CMG) is one of the world’s most popular restaurant chains. Its menu ranges from tacos and burritos to bowls and quesadillas – and it locally sources many of its ingredients.
While it’s a clear leader in the kitchen, it’s also dominating online ordering. Chipotle brought in total sales of $1.9 billion in the most recent quarter… And roughly half of that came from digital sales – a trend the company expects to remain strong in the future.
As you can see, CMG shares have rocketed higher over the past two years. They’re up more than 140% and recently hit a fresh all-time high. As long as Chipotle remains a leader in online food sales, this success should continue…
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Source: Daily Wealth’s Market Notes