"Chipotle's Board Greenlights 50:1 Stock Split"

Chipotle Mexican Grill's board has approved a 50-for-1 split of its common stock, causing its shares to rise about 7% in extended trading. The stock split, subject to shareholder approval at the upcoming annual meeting on June 6, would give shareholders 49 additional shares for each share held if approved. The shares are expected to begin trading on a post-split basis on June 26, making it one of the biggest stock splits in New York Stock Exchange history. Chipotle's shares had closed at a record high of $2,797.56 on Tuesday and had gained more than 70% over the last 12 months, driven by strong financial performance.