CMG drawdown: 53.6% below the all-time high
Chipotle Mexican Grill Inc. (CMG) is 53.6% below its all-time high, set Jun 18, 2024 (as of market close, Jul 24, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (2006).
- Below all-time high
- −53.6%
- 46.4% of ATH
- All-time high
- $68.55
- Jun 18, 2024
- Time below the high
- 2.1 yrs
- since Jun 18, 2024
- Worst-ever drawdown
- −74.6%
- Nov 20, 2008
- Longest underwater
- 3.9 yrs
- between all-time highs
- Today's level first reached
- Jul 9, 2021
- 5.0 yrs ago
- Last time this deep
- Apr 25, 2018
- in a previous episode
% of all-time high since 2006#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of CMG, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Dec 26, 2007 | Nov 20, 2008 | −74.6% | 11 mo | Jun 15, 2010 | 2.5 yrs |
| Aug 5, 2015 | Feb 13, 2018 | −66.8% | 2.5 yrs | Jul 15, 2019 | 3.9 yrs |
| Jun 18, 2024 | Jun 4, 2026 | −58.9% | 2.0 yrs | not yet | 2.1 yrs+ |
| Feb 19, 2020 | Mar 18, 2020 | −50.2% | 28 days | May 11, 2020 | 3 mo |
| Apr 13, 2012 | Oct 23, 2012 | −46.4% | 6 mo | Oct 11, 2013 | 18 mo |
| Sep 23, 2021 | Jun 14, 2022 | −38.1% | 9 mo | Apr 26, 2023 | 1.6 yrs |
| May 9, 2006 | Sep 8, 2006 | −28.5% | 4 mo | May 2, 2007 | 12 mo |
| Mar 20, 2014 | Apr 28, 2014 | −22.1% | 39 days | Jul 22, 2014 | 4 mo |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 2006: how far CMG stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: CMG is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ
- How far is CMG from its all-time high?
- CMG is currently 53.6% below its all-time high, set Jun 18, 2024 (as of market close, Jul 24, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest CMG drawdown ever?
- The deepest decline on record in our data (since 2006) took the stock 74.6% below its prior high, bottoming Nov 20, 2008. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 2006 (split-adjusted). "All-time" means since our price data begins — CMG may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.