Chipotle Mexican Grill (CMG) just opened a restaurant called the Shophouse Southeast Asian Kitchen in Washington D.C. that looks like it could expand into a new concept for the company.The restaurant is set up like Chipotle, in that customers can customize dishes, starting with noodles or rice and adding pork, chicken, tofu and other ingredients.
So far investors seem optimistic that customers will take tho the new concept just like they took the chain’s Mexican restaurants. The stock is up more than 7% since before the concept was announced. The company even touched an all-time high of $346.78 today before falling back down to close at $333.19 after Jim Cramer said investors seemed a little too bullish.
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