The S&P 500’s top gainers on February 14 were:
Chipotle Mexican Grill
Chipotle Mexican Grill, which is a US fast-casual restaurant chain, was the S&P 500’s top performer on Wednesday. Chipotle Mexican Grill declined for three consecutive trading weeks and started this week on a weaker note. On Wednesday, the prices regained strength and rose to one-week high price levels.
Chipotle’s new CEO
The buying pressure in Chipotle Mexican Grill increased following news about the company appointing a new CEO. On February 14, Chipotle Mexican Grill announced that Brian Niccol, Taco Bell’s CEO, will become Chipotle’s new CEO. Taco Bell is Yum! Brands’ most successful brand. Niccol was Taco Bell’s CEO for three years. Appointing a new CEO improved Chipotle Mexican Grill’s sentiment and broke the five-day losing streak. On February 14, Chipotle Mexican Grill gained 15.4% and closed the day at $289.91. Chipotle Mexican Grill is part of the S&P 500 Consumer Discretionary sector, which gained 1.6%.
Next, we’ll discuss how Interpublic Group of Companies performed on February 14.