McDonald's Experiences 7% Rally For November And Closes In On The 2022 High At $281
Portfolio Pulse from Zaheer Anwari
McDonald's Corp (NYSE:MCD) has increased its stake in its China business to nearly 50% by acquiring a 28% stake from Carlyle. Despite geopolitical and economic concerns, McDonald's is confident in the Chinese market's growth, with plans to expand to over 10,000 stores by 2028. The stock has risen 6% YTD and experienced a 7% rally in November, approaching the 2022 high of $281. After a peak in July 2023, the stock faced a 17% decline but has since rebounded. The stock closed at $280.47 on November 21, up by 0.52%.
November 22, 2023 | 5:14 pm
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McDonald's has increased its stake in its China operations and is planning significant expansion, with the stock nearing its 2022 high and showing strong momentum.
The acquisition of a larger stake in the China business and the aggressive expansion plans indicate a strong growth outlook for McDonald's in a key market. The stock's recent performance and approach to the 2022 high suggest positive investor sentiment, which could lead to a short-term increase in stock price as it challenges the resistance level.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100