>> It's been more than 24 hours since Chipotle's stomach turning quarterly results. And investors are still finding no relief. Shares tumbling as much as 15% Wednesday for its biggest one day nose dive since 2012. Investors hungry for a turnaround getting crushed. The stock has lost half its value since hitting a record high back in 2015.
Shareholders may finally be realizing Chipotle's efforts to once again be the millennial's loving hotspot it used to be, ain't happening. Reuters San Francisco bureau chief Peter Henderson.>> Chipotle is slowing down its expansion. Now Chipotle has had its troubles over the years especially with food safety. It's been expanding, expanding, expanding, now it's slowing down.
At the same time, it's planning to raise prices at a lot of stores in November, about a 5% rise. The question is, can it do so at the same time that it's having other issues?>> Chipotle's biggest problem, its missteps coming at the same time bigger chains like McDonald's have been offering higher quality options that are stealing away Chipotle's customers.
And Chipotle's new options like a spicy cheese queso dip isn't doing enough to drive back the foot traffic. Profits and sales last quarter coming in colder than a left over burrito. And the company's decision to be stingy in its outlook for the future, getting translated as a warning, that things won't be heating up anytime soon.