Business
Chipotle stock craters as Wall Street grows concerned after company cuts forecast
A Chipotle logo is displayed on a sign at a shop on June 1, 2025 in Washington, DC.
Kevin Carter | Getty Images
Shares of Chipotle Mexican Grill tumbled as much as 19% in trading Thursday after the company cut its full-year same-store sales forecast for the third straight quarter.
Including Thursday’s move, the stock has fallen 45% this year, dragging its market value down to roughly $43 billion. At least five Wall Street analysts have cut their price targets for the stock after the report, anticipating investors’ displeasure with the burrito chain’s shrinking traffic and gloomy outlook.
“It’s difficult to call a bottom for sales given the multitude of factors weighing on demand,” Citi analyst Jon Tower wrote in a research note, revising his price target from $54 to $44 per share.
In the third quarter, Chipotle’s same-store sales rose 0.3%, but the chain’s traffic fell. While many restaurant chains have suffered in recent years as diners wracked by inflation eat out less, analysts were unsure if the chain’s value perception contributed to Chipotle’s issues. While its burritos and bowls average about $10, consumers often assume its average prices are closer to the $15 entrees of its fast-casual peers, executives said on the conference call.
“While we knew that traffic had slowed for Chipotle into the fall, we were surprised by the magnitude that was reported last night and the resulting deleverage this produced,” BTIG analyst Pete Saleh wrote in a note. “We’re admittedly perplexed by how suddenly this traffic weakness came about, and not convinced affordability concerns are the main driver here.”
CEO Scott Boatwright said on Wednesday’s earnings conference call that diners are visiting less frequently, particularly those between the ages of 25 and 35 years old, a key demographic for the company. Same-store sales have worsened so far in October, and the company is now projecting that sales at restaurants open at least a year will shrink in the fourth quarter and fall by a low-single digit percentage for the full year.
“We are very concerned that the menu and marketing actions taken so far have not sufficiently offset the traffic retraction,” Bernstein analyst Danilo Gargiulo said.
Still, most analysts attributed the slowdown to industrywide challenges, not company-specific issues that Chipotle needs to address. Unemployment, increased student loan repayments and slower real wage growth accounting for inflation are weighing on consumers’ spending, according to Boatwright.
“We believe the brand remains fundamentally healthy (stable share of customer restaurant wallet) and expect a return to growth as the macro improves,” Bank of America Securities analyst Sara Senatore wrote in a note to clients.
Chipotle’s weak performance bodes poorly for its fast-casual peers, like Sweetgreen and Cava. Morgan Stanley analyst Brian Harbour called fast-casual restaurants “This Season’s Halloween Scare” in his research note covering Chipotle’s earnings report.
Shares of Sweetgreen fell 6% in trading Thursday, while Cava stock was down 8%. Both are slated to report their third-quarter results next week.
Correction: The company is now projecting that sales at restaurants open at least a year will fall by a low-single digit percentage for the full year. An earlier version misstated the percentage move.
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Everyone dreams of doubling their money with a magical 10% return. But here’s the catch – compounding with monthly SIPs isn’t as fast as finance charts suggest.
If you invest monthly at 10% per year, it takes_
— CA Nitin Kaushik (FCA) | LLB (@Finance_Bareek) November 2, 2025
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Kaushik said that even if the initial signs of growth seem sluggish, remaining invested allows for compounding to make later growth much quicker and significant. “Post tax and fee returns are slightly lower and market returns may fluctuate. If your portfolio is not growing fast today, relax the foundation is being built and the magic of compounding accelerates with time,” he wrote.
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Business
IPO GMP, Allotment Status Today Live Updates: Lenskart IPO Vs Studds IPO; Should You Apply?
IPO GMP Today, Subscription, Allotment Status Live Updates: The primary market is witnessing bidding in two initial public offerings (IPOs) today, November 3 — Lenskart Solutions Ltd (Day 2) and Studds Accessories Ltd (Day 3). The allotment of the Orkla India IPO is also expected to be finalised today.
Also, fintech firm Pine Labs has announced the price band of Rs 210-221 per share for its upcoming Rs 3,900-crore IPO, which will remain open for public subscription between November 07, 2025 and November 11, 2025.
Lenskart Solutions IPO Day 2
Eyewear retailer Lenskart Solutions is witnessing its second day of bidding today, Monday, November 3. The price band of the Rs 7,278-crore IPO has been fixed in the range of Rs 382-Rs 402 apiece. On the second day of the IPO, its GMP has increased to 21.14% despite high valuation concerns.
Studds Accessories IPO Last Day
Helmets manufacturer Studds Accessories Ltd is witnessing the last day of its Rs 455-crore initial public offer (IPO). The Rs 455-crore offering will be closed at 5 pm today, Monday, November 3. The firm has fixed a price band of Rs 557-585 per share, valuing it at around Rs 2,300 crore at the upper end of the range.
Orkla India IPO Allotment Status
The initial public offering (IPO) of Orkla India Ltd, which owns spices and condiments brands MTR and Eastern, closed on Friday, with a strong 48.74x subscription. Now, investors await the allotment of the IPO, which is expected to be finalised today, November 3, 2025.
Investors can check the IPO allotment status on the websites of BSE, the NSE as well as on the portal of registrar Kfin Technologies.
Meanwhile, Billionbrains Garage Ventures, the parent company of online investment platform Groww, last week set the price band for its initial public offering (IPO) at Rs 95-Rs 100 per share, valuing the company at over Rs 61,700 crore (nearly $7 billion). The Rs 6,632-crore IPO will open for subscription on November 4 and close on November 7, with a special one-day early window for retail investors on November 3.
Last Updated:
Pine Labs sets IPO price at Rs 210-221 per share for Rs 3,900 crore issue, with listing on BSE and NSE on November 14, 2025.
Pine Labs Fixes Price Band
Pine Labs IPO Price Band, GMP, And Key Dates: The fintech firm Pine Labs has announced the price band of Rs 210-221 per share for its upcoming initial public offering (IPO) amounting to Rs 3,900 crore. The payment gateway platform is backed by Peak XV Partners, Mastercard, PayPal, and Temasek Holdings.
The IPO consists both fresh issue worth Rs 2,080 crore and offer-for-sale (OFS) of 8.23 crore equity shares. Previously, the issue had an offer-for-sale of 14.78 crore equity shares.
Peak XV Partners, Macritchie Investments, Madison India, Mastercard Inc, PayPal Inc, AIM Investment Funds, and Actis Pine Labs Investment Holdings are selling their shares via the issue.
At the upper price band, the valuation of Pine Labs has touched Rs 25,377 crore.
Axis Capital, Morgan Stanley, Citi, JPMorgan, and Jefferies are book running lead managers, while KFin Technologies Limited is the registrar.
Pine Labs Opening Window And Key Dates
Pine Labs IPO will open between November 07, 2025 and November 11, 2025. The allotment is likely to be concluded on November 12, 2025, with the listing of BSE and NSE scheduled for November 14, 2025.
Pine Labs Financials
Pine Labs turned profitable this quarter to report at Rs 47.86 million for Q1FY26 after a string of losses. However, the fintech received a tax credit of Rs 96.35 million because of losses.
FY25 still shows a loss of Rs 1,454.87 million, but it’s smaller than FY24’s Rs 3,419.03 million.
The company reported a total income of Rs 6,530.76 million. However, its total expenses stood at Rs 6,578.63 million for the June 2025 quarter.
Pine Labs IPO Objectives
The proceeds of the IPO will be utilized for investment in certain of its subsidiaries, namely Qwikcilver Singapore, Pine Payment Solutions, Malaysia and Pine Labs UAE for expanding presence outside India.
Moreover, a portion of proceeds will be used to build and strengthen IT assets, expenditure towards cloud infrastructure, technology development initiatives, and procurement of DCPs.
The company will also use proceeds to repayment/prepayment of certain borrowings availed by the company and its subsidiaries.
Pine Labs IPO GMP Today
According to market observers, unlisted shares of Pine Labs Ltd are currently trading at Rs 281 apiece in the grey market, against the upper IPO price of Rs 221. It means a grey market premium (GMP) of 27.14%, indicating decent listing gains for investors.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
November 03, 2025, 08:02 IST
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