CEO of JPMorgan Chase & Co. (JPM) just invested $26.6 million of his own money to purchase 500,000 shares of JPM stock. This shows how confident he is in the future of his company, and displays his belief that the price of the stock is currently undervalued. Bank stocks have been hit by concerns of a possibility of negative interest rates, but with a strong U.S. economy there is no need to enact a negative interest rate policy. With a strong labor market, the U.S. will not enter into a recession. Chipotle Mexican Grill (CMG) has seen a fall of nearly 40% in their stock price. The company has a 52 week high of $759 and now trades at a price of $480, so is now the time to be buying? The company is still trading at a P/E of 30.58, while the industry average is in the 20’s. The current forward P/E on the company is 30.19. Even with the recent pull back in the stock, the company is still overvalued. Join us tomorrow on the Smart Investing show on AM 760 KFMB at 8 A.M. We will be discussing the recently reported retail numbers and what we saw in the report, as well as looking forward to next week’s housing starts and CPI. As always we will be taking callers to answer their questions about a company they may hold or are interested in buying. If you miss the show you can listen by podcast at smartinvesting200.com If you have an investment question or a company that you would like us to analyze, feel free to contact us through our website smartinvesting2000.com, or call our office at 858-546-4306.
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