After a string of high-profile foodborne illness outbreaks, Chipotle Mexican Grill Inc. (NYSE:CMG) is trying to win back customers with free stuff.
And yet, the stock is still struggling. It’s lost nearly half its value – 44% – since (October 13, 2015, dropping from a high of $750.42 to $415.15 as of the close on August 30, 2016.
Will the company’s new loyalty promotions – free meals for kids on Sundays and free drinks for high school and college students – help propel the stocks back toward its old highs?
Shah doesn’t think so, as he said on a recent episode of Varney & Co.
In fact, if the stock slips just a little more, to $400, it could go a whole lot lower…
Click below for the full video, where Shah comments on the EU’s Apple cash grab, Google’s entry into ride-sharing, and Alibaba’s value.