The stock market finished higher on Friday, with S&P 500 and NASDAQ rising to an all-time high. The former grew 0.8% to 5,137, while the latter increased 1.1% to 16,275.
Tweet of the Day
There has been an unusual situation in effect since mid-January.
The major stock indexes have tacked on good gains, and Dumb Money Confidence has risen. That's totally normal. What's not normal is that Smart Money Confidence increased as well. We've never seen it to this degree… pic.twitter.com/uN4aygVklB
— SentimenTrader (@sentimentrader) February 28, 2024
Chart of the Day
Here is the one-year chart of Chipotle Mexican Grill (CMG) as of February 13, 2024, when the stock was at $2,599.
Chipotle Mexican Grill is getting more sales out of each store, and profits are flourishing. Last quarter, the burrito restaurant chain had same-store sales growth of 8.4%. That’s eight percent more business from existing locations. In addition, with more sales per store, a lot of that added revenue is going to profits.
Last quarter, profits climbed 25% as total revenue increased 15%. It’s easy fort the company to increase sales as its app is bringing in business, while drive-thru Chipotlanes are being added to most new restaurants. Profit margins rose in 2023 to 26.2% compared to 23.9% in 2022.
CMG is part of the Growth Portfolio. The company has growth opportunities in small towns across the US, in Canada, and now Europe.
