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y america i'll be able to make teach call me at 1-800-743 cbc or tweet me at jimmycraver look we we can spend the whole day arguing about whether netflix still counts as a growth stock after that not so hot forecast oh it's a fun parlor game we can talk about the meme stocks and we'll see like amc the troubled movie theater chain that just gave ceo adam aaron the chairman job too smart move he's done an incredible job tapping the robin hoodie shareholder base for capital that amc needed to stay alive but after just an incredibly swell day for the bulls dow gaining 286 points s p clobbing 0.82 nasdaq jumping 0.92 i want to tip my hat to a company that's doing everything right and show you exactly what doing it right means in this market and i am talking about chipotle which surged 11.5 today on a fabulous quarter that shows you why individual stock picking still matters and why it's easier than most experts would have you believe we know chipotle was gettable because i've been telling you it was headed to two thousand dollars for the last 600 odd points it closed at 17.55 up 181 dollars at this pace it won't take long to hit my price target before i get into polio let me explain why this market can be so confusing i mentioned netflix a second ago because i heard endless chatter today about whether their growth story has run its course this is something i take seriously after all we're the ones who coined fang the acronym for facebook amazon netflix and google but you know what if you find yourself debating whether something's a growth company it probably isn't much of one anymore i think netflix is a terrific business subscriber but the stock only started going higher last night when management mentioned they're working on having some gaming stuff i mean then they started preaching the virtues of interactive entertainment well uh what i want from netflix is content good content if they don't have enough good content to get lots of new subscribers around the world that's a big issue the fact that they're buying back stock is of no interest to me i want signups global sign-ups i don't want throughs as in the pandemic pulled through subscriptions last year i don't want to hear about gigantic runways when the runways are clogged with planes from hbo and disney i just want the netflix of old where the conference calls were fun in jovials the kingpins of entertainment kicked around which of their shows were the favorites this time around i used to read the netflix call to my wife because i wanted to persuade her to watch the shows recommended by the ceo reed hastings not this time this time i found myself thinking oh man i gotta finish this conference call i mean another entertainment company uh so does that mean it's time to rip the n out of fang and replace it with something that sounds a lot less poetic maybe or fam ag i still can't go there yet i want to see what netflix's slate of content looks like when production's no longer hampered by covet but after last night you you need to understand when people say netflix growth status is debatable that means the debate is over company currently lacks the growth to be a member in good standing of fang how about the meme stocks oh these people want to buy new or near penny stocks of companies that might never make a dime that you've never heard of or older companies where they can crush the short sellers which is what they really are about that's why the news from meme stock poster child amc that adam aaron is being promoted from ceo to chairman ceo passes as a big deal i think the wall street vets crowd fundamentally misunderstands the nature of amc's success story aaron kept his company alive by selling them stock at inflated prices allowing a theater chain to outlast the pandemic i say give me a break i am not interested in zero sum situations like amc i am interested in companies with magnificent sales and earnings like chipotle okay so what happened last night the catapult this stock this stock up more than 11 percent in a single session well take over maybe uh uh is some tremendous upgrades how about culture culture that's what happened this company has an extraordinary culture of customer-centric innovation and that culture's been turbocharged since they hired brian nickel as ceo when chipotle stock was languishing in the 200s after a series of health scares again it's in the 1700s now we always hear about these executives who say a crisis is a terrible thing to waste you know most of the time they're just blowing smoke not chipotle it's fully delivered when the pandemic hit management recognized they had to use every form of technology to make the company as profitable as possible everything from the best digital ordering system to the creation of their own bots that answer frequently asked questions in order to free up staff make great food they recognize that they could do enough delivery through doordash to get the food when you need it they understand that drive-throughs we call them chipotle lanes could be a major source of growth thanks to coveted it sure was in the old days chipotle restaurants routinely did 2.5 million volume that's an incredible number amazing versus almost every other change but now because of what they learned about technology including how to build loyalty they have 23 million members up from nothing two years ago and they think that three million dollars per store is now doable that's insane yes they learned that much and paying them three million that's it's inconceivable they can do it but they're gonna do it you often hear that no one can find workers in the service industries how many times you hear that oh supply chain pokemon phone we're getting fundamental how about this maybe they don't know how to find them maybe they don't know how to look for them or maybe they're just cheap and stupid not chipotle as nicole told us in the conference call their coast to coast career day event last week allowed them to hire thousands of additional team members thousands sure they have some inflation like everyone else including wages that move to 15 an hour but they can easily pass that on the consumer with a 3.5 to 4 price price like i mean did you really notice that on your bowl i didn't but the most important thing is that unlike nearly every company i follow chipotle held on to its digital gains after the great reopening was it the cauliflower rice the lifestyle balls the burritos and bitcoin promotion nah that was the whole shooting match a company that can earn 7.46 cents when wall street was only looking for 6.49 a company that could easily more than double its domestic store count while vastly increasing the profits per store this is a company that's not speaking authentic silicon valley gibberish when it says it's evolved into and i quote a real food-focused digital lifestyle brand the bottom line go ahead debate netflix's growth or lack thereof ponder how the heck amc could be worth more than 21 billion dollars even as it fights for survival by taxing its robin hoodie shareholders but i think you'd be better off buying a chicken burrito and a share of chipotle e
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