Shares of Chipotle (CMG) are soaring on Friday after the company announced its plans for a 50-to-1 stock split. Yahoo Finance Executive Editor Brian Sozzi joins the Live Show to discuss his top three takeaways from his interview with Chipotle CEO Brian Niccol.

Firstly, Chipotle will be focusing on expansion, setting its sights on opening 315 new restaurants within 2024, totaling 7,000 locations across the United States. Secondly, the company will be looking to implement new technology to increase efficiency within their restaurants including food sensors and avocado pitters. Lastly, Brian Niccol has expressed his commitment to staying with the company and guiding it through its successful growth trajectory.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Angel Smith

Video Transcript

[AUDIO LOGO]

SEANA SMITH: Shares of Chipotle climbing over 20% so far this year as it gears up for its 50 to 1 stock split in June. Our Executive Editor Brian Sozzi had a chance to speak with the burrito chain CEO Brian Niccol about the company's year so far that has been very impressive. And, Soz, What did he have to tell you?

BRIAN SOZZI: Yeah. I can't believe Brian Niccol has been the CEO of Chipotle for 6 years. I still remember covering the day when he was announced as CEO. And going before that, I originally got to know him when he was at Yum Brands leading that Taco Bell brand and creating a lot of awesome campaigns. But nonetheless, some interesting takeaways from my chat with Brian. And the full piece will be in the Morning Brief newsletter on Sunday. It's just a taste of things to come in that piece. You can go to our home page and check that out.

But nonetheless, big focus right now by Brian and his team on new restaurant openings. When Brian started, this chain was at about 2,400 locations. They're at 3,400 right now. This year, they will open close to 315 new restaurants. Really a mind blowing number that not a lot of other competitors are doing. This will be the most restaurants Chipotle will have ever opened in a single year. Now Brian tells me he thinks he sees a road to 7,000 restaurants over time, mostly in the US, but I think increasingly overseas. I asked Brian if he thinks Chipotle can work in China. Potentially, the verdict isn't out yet. But again, he has a lot of experience in that Chinese market given all those years he spent at Yum.

Also, the company is pushing very aggressively into technology. And they've gotten a lot of attention from Chippy the robot. And now they've pulled back on Chippy because he told me it's hard to clean. They're starting to test the new machine that actually peels and cores avocados. But one of the interesting technologies that caught my attention, Seana, it's this new sensor-type technology. And it's hard to explain, but the bottom line is new sensors that may eventually go into Chipotle to help measure the amount of food going into the bowls and burritos. So something to watch there as well.