Someone needs to do something here .... um, that would be you, sir.
"Steve Ells is Chipotle," TheStreet's Jim Cramer said on CNBC's "Mad Dash" segment. Ells says they need better execution, which is ironic given that he's the CEO and is responsible for the company's execution.
Before the food-borne illnesses began plaguing the stock several years ago, Chipotle could do no wrong. The stock was an absolute monster, margins were wide and it was highly profitable with strong growth in revenue and store openings. All of that has changed now and Chipotle has never really recovered from its outbreaks.
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It was on track to recover from its December 2015 norovirus issues in early summer of this year, Cramer noted. That time span of about 18 months is how long it normally takes food companies to overcome such issues. But then right around that time in 2017, Chipotle had a few more, albeit smaller outbreaks. That reset the clock on its recovery, he reasoned.
"This thing is very worrisome," Cramer, who also manages the Action Alerts PLUS charitable trust portfolio, said of Chipotle, despite it rallying 3% Wednesday on the news of it looking for a new CEO.
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