Chipotle Mexican Grill (CMG) stock plummeted by 13.34% on Thursday, closing at $45.74 per share after a disappointing earnings report and weak outlook for the year. Net income for Q2 dropped by 4.3% to $436 million, while total revenues grew by 3% to $3.06 billion due to new restaurant openings.

Looking forward, Chipotle expects flat same-store sales but plans to improve performance through new menu innovations, rewards programs, and global expansion. The company also anticipates a tax rate between 25-27% for the year. Despite potential, some believe other AI stocks offer higher returns with less risk.

In light of Chipotle’s recent struggles, investors are keeping a close eye on the company’s efforts to turn things around. With a focus on boosting sales through new initiatives and global expansion, the fast-casual chain is working to regain its footing in the market.

Read more at Yahoo Finance: Chipotle Mexican Grill (CMG) Slashes 13% on Disappointing Q2, Outlook