Chipotle Stock Extends 6% Rally on Report Starbucks Explored Takeover; Analysts Split

Chipotle Mexican Grill (NYSE: CMG) shares rose 0.37% to $32.80 in Friday premarket trading after gaining 6.21% on Thursday, as investors assessed reports that Starbucks had explored acquiring the burrito chain. The advance followed a Financial Times report that Starbucks had considered a potential takeover, although neither company has confirmed a transaction. The uncertainty has drawn differing assessments from Wall Street analysts about whether an acquisition would be financially and strategically feasible. According to the Financial Times, Starbucks worked with advisers in recent months on a potential acquisition of Chipotle.

Source: The Crypto Basic