$CMG CHIPOTLE MEXICAN GRILL ***it is over cooked****

Not that much has really changed to CMG in the last year to give it such a high valuation, at the end of the day it is a food company with a P/E ratio of 118. Similar ratios are held by growth tech companies. When you consider McDonalds has a P/E of 26, that sort of confirms our short interest in CMG. $550 is a reasonable target for our short but will access along the way.