Why Shares of Restaurant Stocks Fell Out of the Sky Today
Restaurant stocks are taking it on the chin today as cities across the U.S. shut down restaurants and begin to close down to control the coronavirus pandemic. Shares of Dave & Buster's Entertainment Inc (NASDAQ: PLAY), Chipotle Mexican Grill, Inc. (NYSE: CMG), Texas Roadhouse Inc (NASDAQ: TXRH), BJ's Restaurants, Inc. (NASDAQ: BJRI), and Darling Ingredients (NYSE: DAR) all dropped more than 10% today, and some fell a lot more.
Source: Google Finance.
One of the first responses cities have had to the coronavirus pandemic is to shut down gathering places for 50 people or more. The most commonly visited of these are restaurants, which can have hundreds of people come through in a day.
Source Fool.com
