CNN —
Chipotle’s board announced that it approved a 50-for-1 stock split on Tuesday, which the company called one of the biggest stock splits in New York Stock Exchange history.
That means a single share of Chipotle, worth $2,797.56 as of Tuesday’s stock market close, will be split into 50 smaller shares if the move wins shareholder approval, effectively rolling back the cost of investing in the company.
Companies often decide to split their stocks when they believe the price per share is too high for average investors. In a statement, Chipotle’s chief financial officer,
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