Just a couple of weeks ago McDonald’s (MCD) was the toast of the town. Same store sales were great and its breakfast menu was selling like hotcakes. It said it would put coffee bars in 14,000 US stores, which might be worth $1 billion in revenue per year.
Now investors have turned on the fast good company like a pack of dogs. MCD is down over 6% to $54.50.
The stock has had a fantastic run over the last two years. Perhaps it has gotten too expensive in the eyes of some.
Or, perhaps the market thinks the consumer is so poor that he cannot afford a hamburger.
Douglas A. McIntyre
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