Chipotle’s long battle with E. Coli has sent the company’s shares down by 4% on Tuesday. Shares at the fast-casual chain briefly fell below $500 for the first time since May 2014.
The company is being hurt by a new CDC announcement on Monday that an unrelated E. coli outbreak may have recently occurred.
The CDC said that it “is investigating another, more recent outbreak” reported in three states (1 in Kansas, 1 in North Dakota and 3 in Oklahoma) that appears to have a “different, rare DNA fingerprint” of the E. coli bacteria strain.
The new illnesses started between November 18 and November 26. That’s weeks after the outbreak that was first reported in late October in Washington and Oregon.
There have also been one new E. coli case related to the original outbreak. There have been 53 reported cases of E. coli reported from people who ate at Chipotle.
Chipotle is working closely with the FDA and CDC to determine the cause for all of the recent E. coli cases.
The fast-casual chain has promised to create better food safety practices that will bring the possibility of such cases to “near zero” in the near future.
Shares at Chipotle are down 27% this year with shares plunging by 22% since the reports of the first outbreak in early November.
Shares at the company are down 34% from a high it reached in August.
The E. coli outbreak has also slowed sales at the restaurant and executives expect a sharp downturn in Q4.