Chipotle shares are getting crushed

Chipotle shares are falling in early trading after the company reported disappointing sales on Tuesday.

The stock fell by more than 5% early Wednesday to as low as $US650.05 per share.

Year-to-date, shares are down 4%.

In the first quarter, same-store sales rose 10.4%, missing expectations for growth of 11.8%.

Earnings per share came in at $US3.88 on revenue of $US1.09 billion; analysts were expecting EPS of $US3.65 on revenue of $US1.1 billion.

Chipotle CEO Steve Ells said that because it cannot find enough pork suppliers that meet its standards, there will continue to be a shortfall.

If everything goes to plan, carnitas will be back in full supply by the fourth quarter, he said.

Here’s the price action in the stock over the last few days:

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