3 Reasons Why Chipotle Is Down 53% Since Its 50-for-1 Stock Split

Chipotle's stock has plummeted 53% from its all-time high following its June 2024 stock split, driven by weakening sales growth, rising operational costs, and leadership uncertainty after CEO Brian Niccol's departure to Starbucks. Revenue growth slowed from 18% year-over-year in Q2 2024 to just 5% for full year 2025, while restaurant-level margins compressed from 26.7% to 23.7% amid inflation in labor, rent, and food costs. The company prioritized traffic over profitability through price cuts, resulting in a 17% year-over-year earnings decline in Q1 2026.