Stock Market Today, Oct. 12: Chipotle Falls 4% as Starbucks Denies Takeover Bid
Today, Oct. 12, 2026, takeover speculation evaporated after Starbucks ruled out a deal, sending the fast-casual chain down 3.75%.
On October 12, Chipotle Mexican Grill (NYSE:CMG) experienced a 4% drop in its stock price after Starbucks denied a takeover bid for the fast-casual Mexican-inspired restaurant chain. Starbucks' rejection of the proposal sent a chill through CMG's stock, which closed at $30.40, down 3.75%. The trading volume for Chipotle reached 26.0 million shares, approximately 48% higher than its three-month average of 17.6 million shares. Since its initial public offering (IPO) in 2006, Chipotle has soared 3,355% in value.
The S&P 500 index (SNPINDEX:^GSPC) ended the day at 7,808, registering a negligible 0.05% decrease, while the Nasdaq Composite (NASDAQINDEX:^IXIC) closed at 27,246, down 0.44%. Within the fast-casual and quick-service restaurant sectors, McDonald's (NYSE:MCD) posted a modest 0.21% increase, trading at $235.72, while Starbucks (NASDAQ:SBUX) rose 1.69% to $92.28 following the Starbucks' comments that reset takeover speculation in the restaurant sector.
The brief M&A rumors between Starbucks and Chipotle were quickly debunked as Starbucks firmly denied any interest in acquiring the Mexican Grill chain. As a result, Chipotle's stock fell 4%, while Starbucks saw a 2% rise in value. Investors are now eagerly anticipating the company's third-quarter results, which are expected to be released on October 28.
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