McDonald’s stock has been on fire recently.
The fast-food chain has gained ground for 21 consecutive weeks, riding the momentum of its new Big Macs and all-day breakfast, which helped pushed up US sales by 1.7% in the first quarter. It beat analyst forecasts for earnings per shares by $0.13 at $1.47.
However, that streak appears to be in jeopardy. McDonald’s share price fell Monday and Tuesday, and is little changed on Wednesday. Shares are down about 1.6% so far this week. They’ve gained 26.41% since the streak began.
Quant trader Michael Harris was the first to point out the trend.
$MCD Let’s see if it breaks a 21-week win streak, longest since IPO. http://pic.twitter.com/qLz5yYjXRO
— Michael Harris (@mikeharrisNY) June 7, 2017
To check the live price of McDonald’s shares, click here…
SEE ALSO: The real reason why McDonald’s calls its frozen drinks ‘shakes’ — and not milkshakes
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June 07, 2017 at 09:17PM
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