Burrito Bubble

Chipotle Mexican Grill went public today, and, while they make a mean burrito for a multi-store chain, the market capitalization stands at $1.5 billion. The company made $5 million last year. That a P/E of 300 for the folks without calculators handy. I have to do some calculations, but I'll guess that valuation implies something like every man, woman and child in the US will be eating 3.7 burritos per day in the future.