Chipotle Mexican Grill (CMG) is investing in Nuro, a robotic delivery vehicle startup. California has allowed the CMG stock’s vehicles to begin traveling on public streets in December 2020. On February 20, 2020, the US Department of Transportation granted tax exemption to the Nuro R2 small robot car, exploring three additional states.
A robotic delivery vehicle that has already been tested and approved for use in one of the nation’s wealthiest states will be available for Chipotle Mexican Grill’s use. Therefore, the restaurant chain may be able to use a new delivery model soon.
Chipotle Mexican Grill (CMG) reports that its digital sales have increased in the past year since it closed so many restaurants during the pandemic. “Chipotlanes” was a special car organization used to increase take-out restaurant sales. MarketWatch indicates that Chipotle Mexican Grill’s restaurants outperform its regular restaurants in terms of sales volume.
Recent quarters have seen a greater emphasis on new sales technologies at Chipotle Mexican Grill. An example is the development of a chain of restaurants consisting only of eating areas and kitchens. Even after the end of the pandemic, these sales points will focus on digital and takeaway sales. The addition of robotic vehicles to Chipotle Mexican Grill’s system would let it create a plan for ordering and delivering food that would be innovative and sustainable almost anywhere.
Chipotle Mexican Grill (CMG) has a 20-day trading average of $1,428.99, and it is currently -8.97% off its 52-week high compared to a 137.52% distance from its 52-week low. It has a 50-day moving average of $1,459.82 and a 200-day moving average of $1,299.51. This week’s volatility was 2.43%, and it climbed to 3.27% for a month. Moreover, it is essential to analyze other market indicators of the stock’s price movement. We see that the relative strength index (RSI) is at 47.31 to indicate the stock is in neutral territory.