Chipotle Mexican Grill (CMG) announced late Tuesday that its board has approved a 50-for-1 stock split. Chipotle stock rose solidly overnight.
Shareholders will vote on the Chipotle stock split at the annual meeting on June 16.
Chipotle stock jumped 4.4% in late trading. Shares climbed 0.9% to 2,797.56 on Tuesday, a record close.
A split can sometimes spur buying as investors…