Chipotle just announced a 50-for-1 stock split

Chipotle Mexican Grill Inc (NYSE: CMG) is up 7.0% in extended hours after announcing plans of a 50-for-1 stock split.Why is $CMG opting for a stock split?Copy link to sectionThe international chain of fast casual restaurants will seek shareholder approval for the stock split at its annual meeting in June, as per its press release on Tuesday.   $CMG will trade on split-adjusted basis from June 26th provided that it does secure that approval. According to Jack Hartung – the chief financial officer of Chipotle ...