Despite Chipotle's striking year to date performance, the company is one of the most heavily shorted stocks according to Ihor Dusaniwsky, Managing Director of Predictive Analytics at S3 Partners. Shorts have cut their exposure in the face of tremendous losses.
"Chipotle short sellers were selling into the rally for the first 2 1⁄2 months of 2019, incurring $500 million of mark-to-market losses, -36.51%, before reversing course and cutting their CMG exposure," said Dusaniwsky in a research note.
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