Benzinga - by Zaheer Anwari, Benzinga Contributor.
- McDonald's aims to expand its global store count from around 40,000 to 50,000 by the end of 2027, highlighting an ambitious growth strategy focused on increasing its physical presence worldwide.
- The company is significantly investing in its digital ecosystem.
- McDonald's has launched CosMc’s, a new spinoff brand, to explore innovative offerings like personalized coffee drinks.
- The stock's resilience is evident in its recovery from a 17% decline between July and October 2023, bouncing back by 17%, with solid support at $281, the highest point reached in 2022.
This expansion is not just about having more physical locations, they are also making substantial investments in the digital domain.
The company recognizes the importance of the digital-savvy consumer and is enhancing its digital ecosystem, including its mobile app and loyalty program, to meet their evolving needs.
The launch of CosMc’s, McDonald’s new spinoff brand, showcases the company's unwavering dedication to pushing boundaries and embracing novelty.
By targeting customers who crave more than the typical fast-food offerings, CosMc’s puts a spotlight on personalized coffee drinks and quick snacks. This strategic move opens up new opportunities for McDonald's to engage with a fresh customer base.
McDonald's stock has had an impressive performance so far for December, both from a financial standpoint and within a broader trend.
At its peak, the stock climbed 5% and, despite some recent pullbacks, it remains up by 3%. In fact, for the year, the stock has increased by almost 10%.
This positive movement has brought the stock price very close to its all-time high of approximately $300. Although there is still time for the stock to potentially achieve new record highs this month, it is important to emphasize its resilience.
This is clear from its ability to recover from a 17% decline that happened from July to October 2023, rebounding by 17%.
This recovery demonstrates the stock's strong ability to overcome setbacks. In the event that current declines persist, there is solid support at $281, representing the highest point reached in 2022.
After the closing bell on Thursday, December 14, the stock closed at $236.17, trading down by 1.97%.
This article is from an external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.
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