Chipotle Mexican Grill Higher For Third Day In A Row

Chipotle Mexican Grill, Inc. CMG shares are trading higher by $6.73 at $470.35 in Monday's session. Some investors are attributing the rally to rumors that the company may raise prices by 5 percent this month.

This marks the third day in a row the issue has traded higher and for the fourth time in its last session. Over the latter period, the issue has rallied from an intraday low on April 11 at $445.35 to north of $470.00.

After a higher, it breached Thursday's close ($463.62) but quickly found support at $461.70 and began to move higher. So far, the ensuing rally has taken the issue $471.50 but has fallen back to the $470.00 area. The current high marks the highest level for the issue since April of last year, when it peaked at $473.17, while on its way to 2.5 low at $352.96 in November.