Why Texas Roadhouse Stock Is Up Today
Shares of Texas Roadhouse (NASDAQ: TXRH) climbed more than 10% on Friday, reversing declines from previous days. Restaurants are sure to get clobbered by the COVID-19 coronavirus outbreak, but with Texas Roadhouse shares down more than 37% since Feb. 23, perhaps those losses could finally be priced in.
It isn't hard to make the case for why restaurants will likely report miserable first-quarter results. The coronavirus outbreak is compelling consumers to stay at home, and eating out isn't likely to be front of mind.
The real questions are how long will the outbreak last, and will it have long-term economic repercussions. While the length of the outbreak is impossible to predict, Friday did bring some reasons for investors to hope that the economy will not be grounded for long.
Source Fool.com
