US Stock Movement | Rumors of Starbucks Considering Acquisition Send Chipotle Mexican Grill (CMG.US) Shares Surging as Much as 8.6%

According to a report by Zhitong Finance APP, citing sources familiar with the matter, Starbucks (SBUX.US) has been working with advisors in recent months to study a potential acquisition plan for the U.S. Mexican-style restaurant chain Chipotle Mexican Grill (CMG.US). Following the news, Chipotle Mexican Grill's stock price surged as much as 8.6% during Thursday's trading session, while Starbucks' stock price fell as much as 6.7%, marking its largest intraday drop in over a year. As of press time, Chipotle Mexican Grill's stock price gain narrowed to 5.3%, at $32.385.