Jim Cramer on Chipotle: “It’s Just Gotten A Lot More Expensive”

Chipotle Mexican Grill, Inc. (NYSE:CMG) is one of the stocks Jim Cramer shared his views on. Cramer discussed the stock in detail during the episode, as he said:

“Everything’s changed since COVID, but we just keep acting like it hasn’t. We always seem surprised when we hear that higher prices are hurting demand and a company isn’t doing that well. That’s how I felt about the plummeting price of Chipotle stock. I was checking it out after talking with Brian Niccol, the current CEO of Starbucks, who came over from Chipotle about a year ago. When Brian left, the stock was at 56. The S&P 500 was at 5,648. Now the stock’s at 43 and change. Well, the S&P’s at 6,362. Well, what’s happened here? It’s not the in-store experience. Chipotle’s the same place it was always. It’s just gotten a lot more expensive…

Look, I’m not trying to pick on Chipotle, and I recognize those prices are all over the map given their crowdsourced nature. So many restaurants, so many kinds of stores, so many homes, so much entertainment… the same problem. But to not relate Chipotle’s stock price to what’s happening with the prices, well, that’s just fanciful. The consumer’s just paying a lot more, and nobody likes that.”

Jim Cramer on Chipotle: "It’s Just Gotten A Lot More Expensive"

Susan Law Cain / Shutterstock.com

Chipotle (NYSE:CMG) operates fast-casual restaurants serving customizable Mexican-inspired meals, including burritos, bowls, tacos, and salads.

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Disclosure: None. This article is originally published at Insider Monkey.