Tuesday's drop in Chipotle Mexican Grill's stock cut the restaurant chain's short seller's losses by just over a third, according to Ihor Dusaniwsky, Head of Research at S3 Partners, a financial analytics firm.
Chipotle's stock fell as much as 7.5% in intraday trading today after reports surfaced saying the company had closed a restaurant in Sterling, VA. after multiple reports of customers falling ill after eating there.
The stock price shrunk Chipotle short seller's losses by just over a third. Shorts are higher $55 million mark-to-markets today, decreasing their year-to-date losses to $103.7 million for the year, or down only 5.4%, Dusaniwsky noted.
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