Chipotle Mexican Grill (CMG) NewsBite - CMG Announces Solar Panel Plans

Chipotle Mexican Grill (NYSE: CMG) opened at $89.00. So far today, the stock has hit a low of $87.20 and a high of $89.02. CMG is now trading at $87.50, down $1.64 (-1.84%). The stock hit its 52-Week high of $98.66 in September and set its 52-Week low of $36.86 in November. Chipotle Mexican Grill announced plans today to start using solar panels at its restaurants. The company plans to place solar panels on top of 75 restaurants over the next 12 months, making it the largest producer of solar power in the restaurant industry. Technical indicators for the stock are bearish and S&P gives CMG a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on CMG the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 105 range.

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