McDonald’s stock advances on strength of Chicken Big Mac launch
- McDonald's introduces new Chicken Bic Mac globally.
- Fast food leader says the product is only available for a limited time.
- Analysts will watch what management says during the earnings release on October 29.
- MCD stock is trading at a new all-time high.
McDonald’s (MCD) stock price rose more than 1.6% on Monday after the world’s largest fast food chain launched its Chicken Big Mac sandwich. The sandwich is only available for a limited time but could become a primary competitor to the fast food chicken king — Chick-fil-A.
McDonald’s was the second-best performer in the Dow Jones Industrial Average in the week’s first session, which coincided with Columbus Day. The DJIA gained 0.47% in the session, behind the 0.77% and 0.87% that the S&P 500 and NASDAQ indices wrought, respectively.
McDonald’s stock news
The Chicken Big Mac is a poultry version of the fast food chain’s iconic cheeseburger. The sandwich replaces the normal Big Mac beef patties with two chicken tempura patties, while the classic toppings remain.
With most US markets pricing the Chicken Big Mac at $5.49, it’s sure to be watched by analysts as a means of increasing foot traffic.
Popeyes (QSR), Wendy’s (WEN) and Shake Shak (SHAK) have all carried out similar chicken sandwich initiatives over the past several years as Chick-fil-A has continued to exercise leadership in the product market.
First carrying out a trial run in Miami back in 2022, it’s taken all this time to roll out the new option to McDonald’s 36,000-plus restaurants around the world. At 530 calories, some customers may see the Chicken Big Mac as a healthier alternative for watching their weight.
McDonald's stock forecast
McDonald's stock reached an all-time high on Monday after breaking through long-term resistance. The stock should continued breaking higher since the resistance level that began in April 2023 has existed for about 18 months. This makes the break quite significant.
The 50-day Simple Moving Average (SMA) near $290 may provide support in the event of any pullback.
MCD daily stock chart
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Author
Clay Webster
FXStreet
Clay Webster grew up in the US outside Buffalo, New York and Lancaster, Pennsylvania. He began investing after college following the 2008 financial crisis.
