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Chipotle Stock Falls 3.8% After Starbucks Takeover Denial

Reuters (via The Spokesman-Review)1 min read4 sources

Why did Chipotle stock fall 3.8%?

Chipotle (CMG) stock fell 3.8% on Monday to $30.40 after Starbucks said it is not buying the burrito chain, erasing takeover hopes from last week's Financial Times report.

Key numbers

Chipotle close$30.40-3.77% on Oct 12
Chipotle trading volume29.2M shares48% above 3-month average
Chipotle jump on FT reportMore than 7%Starbucks fell about 3% (per [1])
Starbucks close$92.28+1.69% on Oct 12
Chipotle 52-week low$28.0452-week high $42.81

What happened

Chipotle (CMG) stock fell 3.8% on Monday to $30.40 after Starbucks said it is not buying the burrito chain, erasing takeover hopes from last week's Financial Times report. A Starbucks spokesperson said the company does not comment on rumors, but wanted to be clear: "we are not buying Chipotle". The Financial Times had reported on Thursday that Starbucks worked with advisers on a possible offer, which lifted Chipotle more than 7% and pushed Starbucks down about 3%. Starbucks shares rose 1.7% to $92.28 on Monday. Chipotle is now down roughly 19% over the past month.

Why it matters

Chipotle's stock now depends on its own results again, because hope that a buyer would pay extra for the company is gone. Its shares sit close to the bottom of their 52-week range of $28.04 to $42.81. The restaurant chain reports third-quarter results on October 28, which will show whether sales are holding up as customers cut back.

Who this affects

Marketneutral
Low impact
Broad market barely moved; S&P 500 slipped 0.05%.
Companybearish
Medium impact
Chipotle shareholders lose takeover hopes; shares fell 3.8%.
Competitorsmixed
Low impact
Starbucks gains 1.7%; McDonald's roughly unchanged.
Industryneutral
Low impact
No big restaurant deal is coming; sector largely unchanged.

Chipotle vs Starbucks, McDonald's

ChipotleCMG$30.40-3.8%
StarbucksSBUX$92.28+1.7%
McDonald'sMCD$235.72+0.2%

As of 2026-10-12

How we got here

  1. Financial Times reports Starbucks worked with advisers on a possible Chipotle bid; Chipotle jumps over 7%.

  2. Starbucks says "we are not buying Chipotle"; Chipotle closes down 3.77% at $30.40.

What to watch

  • Chipotle reports third-quarter results, a test of sales and profit margins.2026-10-28
  • Starbucks reports quarterly earnings after the market close.2026-10-29

Educational content only. Not investment advice.

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