Fast food behemoth McDonald’s reached a new peak today, hitting nearly $209 a share intraday, and currently trading near its high.
The company recently began advertising and selling products off of its international menu, including the Stroopwafel McFlurry, the Grand McExtreme Bacon Burger, the Tomato Mozzarella Chicken Sandwich, and Cheesy Bacon Fries, which have been available at participating McDonald’s locations nationwide since June 5.
“These are fairly easy to do, fairly easy builds,” he said. “They might see it as … an easy marketing win without stretching the operations too much,” Sam Oches, editorial director of Food News Media at QSR magazine said. McDonald’s has been trying to streamline its menu to increase speed and efficiency, and to ease the burden on franchisees. The international items don’t require many new ingredients.
“If we take a look at the chart of Chipotle, this is a stock that has been in a pretty tight consolidation range, really since about March. It’s now breaking the topside of that consolidation range. And as an individual who looks at charts you’d look at a measured objective probably in the mid-$800s on that particular stock, ” Johnson said on CNBC’s “Trading Nation” on Friday.
“The second stock we’re ordering up is Shake Shack,” said Johnson. “This is a stock that is breaking out to new highs. You’ve just broken out, and you’re seeing confirmation with the relative strength trends also. So, from our perspective this is a stock that we think can move up appreciatively from here.”
For investors looking to use ETFs to take advantage of these recent fast food moves, the Restaurant ETF (MENU), and the Consumer Discretionary Select Sector SPDR ETF (XLY) contain many of these restaurants and more.
For more investing ideas, visit ETFtrends.com.
