No one who read Saint Paul's widely-heralded tale of free burrito fever would be surprised to learn that Chipotle Mexican Grill's IPO sizzles:
The debut of Chipotle Mexican Grill Inc.'s stock yesterday was spicier than a three-alarm hot sauce, overshadowing strong openings by two other new issues.
The burrito chain opened at $45 and was at $44 at 4 p.m. in New York Stock Exchange composite trading, double its initial public offering price of $22.
From his stomach to your portfolio. What's for lunch today, Saint Paul?
UPDATE--A man who knows a thing or two about greed and gluttony, The Nihilist In Golf Pants, e-mails to lament missing a chance to climb aboard the burrito bandwagon:
I heard about the IPO on my drive in this morning. I had no idea they were doing an IPO. I'm not saying I would have bought, but I sure wish I had been aware so I could crunch some numbers.
I have talked to dozens of people about Chipotle and I can only think of a handful that don't absolutely love the place. I believe they could sell their burritos for an extra buck or two without losing many customers.
Another missed opportunity.
Or perhaps another Krispy Kreme? Only time and the ravenous appetites of men like Saint Paul and The Nihilist will tell.