Which restauarnt play could whet your appetite for food stocks? Jeff Macke, suggests Chipotle !
The fresh-Mex fast food chain has become widely know for its tasty burittos and tacos that are made to order as customers move through a cafeteria style line and chose what goes into their meal. The chain has also generated a lot of attention with its philosophy of "Food With Integrity."
What's "Food With Integrity"?
According to the company's website, "Food With Integrity means working back along the food chain. It means going beyond distributors to discover how the vegetables are grown, how the pigs, cows and chickens are raised, where the best spices come from." Chipotle learns how these factors affect the flavor of the finished product. And what they can do to improve it.
Here are some more particulars:
Chipotle Mexican Grill (CMG)
-Based in Denver, CO
-Market Cap: $2.2 Billion
-52 Week Low $36.86
-52 Week High $120.50
-Down about 40% ytd
What makes Chipotle a rising star?
This was a former cult stock that's fallen 40% and it's starting to bounce. Cult stocks either go to zero or they find a bottom and it looks like a case of the latter, counsels Jeff Macke.
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Trader disclosure: On Apr. 6th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (WFC), (AAPL), (SDS), (GS), (MOS), (WMT); Seymour Owns (AAPL), (BAC), (EEM), (FCX), (FXI), (F), (MSFT); Terranova Owns (KCE), (AMGN), (IBM), (HESS), (BRCM), (DIS), (DELL), (JPM), (INTC), (X), (JOYG), (WYNN); Terranova owns (COP) Calls; Terranova Owns (POT) & (POT) Calls; Terranova owns (XOM) & (XOM) Calls; Karabell Owns (AAPL), (CSCO), (FCX), (FXI), (GOOG), (JPM), (NOK), (NVDA)