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.
— Michael Harris (@mikeharrisNY) June 7, 2017
- Markets Insider