Cramer's 'Mad Money' Recap: Chipotle Overcooked

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After nearly a 200% gain, it is time to say good bye to Chipotle Mexican Grill (CMG Quote), Jim Cramer told viewers of his "Mad Money" show Thursday.

Although he still believes the company is "fantastic," Cramer said he cannot like the stock at this price. "Sometimes companies and their stock deserve to diverge, and right now, Chipotle is one of them," he said.

"We don't want to be greedy" and those who continue to stay in Chipotle are being piggish, Cramer said.

It's a great company, but it has become too expensive, Cramer continued. It is now selling at twice its growth rate, "the limit for growth stocks," he said. Growth stocks "rarely, if ever go higher," Cramer said. "When a stock gets to this level, you just have to sell because the risk-reward becomes awful."

Even if Chipotle goes higher, it won't be by much, and if it makes even the slightest mistake, it will get its head chopped off, he said.

Compared with Chipotle, Cramer said he considers $622-a-share Google (GOOG Quote) "a lot cheaper." Many people may say that Google is too expensive, but it's trading at only a little over one times its growth rate, he said.

Plugging Chipotle's valuation into Google, the search giant would be trading at about $1,200 a share, at which point Cramer said he would consider Google too expensive.