Chipotle's (CMG) Digital Orders Helped Impressive Earnings Report

Chipotle (CMG) earnings were released yesterday, postmarket. Its adjusted EPS came in at $10.50 versus an estimated $8.89 and revenue came in at $2.40B versus an estimated $2.34B. Alex Coffey and Jenny Horne discuss this name as it hits a new all-time high after earnings. They talk about how CMG is up over 46% year-to-date. The note that spring and summer are seen as peak seasons for CMG. they also go over how important CMG's digital orders were as they made up over 40% of their orders. They also highlight how going viral on TikTok helped CMG's sales. Alex then demonstrates an example trade using CMG. The trade type is a sell put vertical and the direction is neutral to bullish. Tune in to find out more about the stock market today.