Chipotle shareholders just voted to approve an increase in its total share count, this is a huge step for the company as it plans to carry out an insane 50-to-1 stock split on June 25. A 50-to-1 split means that for each share a shareholder possesses they will receive 49 additional shares, and each share will be worth a fiftieth of what it is now. The goal of this split is to reduce the price of each share of the company in order to make it easier to buy shares for retail investors.
Currently a share of the company trades for roughly $3200. While speaking on this decision, Chipotle Chief Financial Officer Jack Hartung said “We believe the stock split will make our stock more accessible to our employees as well as a broader range of investors. With this historic decision, we’ll be better able to reward our team members and empower them to have ownership in our company.”
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