The market's reaction to Chipotle's (CMG 0.40%) Q2 earnings was swift and severe, with the stock down more than 20% Friday. But how did the numbers really look? Charly and Jason think the business is doing just fine. Comparable-store sales were up 8%, operating margins improved to 19%, and earnings were up 60%. Chipotle remains a best-of-breed restaurant operator. At issue is that the market has priced the stock for perfection, and when that happens, shareholders have to understand the market is fickle and easily spooked.
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