Chipotle (CMG) stock plunged over 20% after reporting in-line earnings and weaker-than-expected revenue for Q3. CEO Scott Boatwright stated same-store sales are projected to drop roughly 5% in 2025, leading to a 45% decline in stock value this year. Affordability concerns and traffic slowdown contributed to the stock’s decline, with no dividend to incentivize buying. Analysts warn that CMG stock remains overvalued with potential for further decline due to macroeconomic factors. Despite lowered price targets, Wall Street still recommends a “Strong Buy” rating with a 70% upside potential from the average price target of $54.

Read more at Barchart: Chipotle Stock Is Plunging. Should You Buy the Dip Today?