stock set an intraday record high Monday morning and was on track for its first record close since August 2019.
The stock (ticker: MCD) was up $1.9% to $222.12 and has risen 4.9% amid a five-trading-day winning streak, according to Dow Jones Market Data. Shares were up 62% from their 52-week closing low, set on March 23.
In a note on Sunday, Piper Sandler analyst Nicole Miller Regan said her firm’s restaurant checks suggest sales were positive in August, “driven in part by McDonald’slong-standing brand popularity with consumers as preferred quick-service brand.”
“Our initial September checks suggest trends are on pace to be sequentially higher driven in part by upcoming promotions including Spicy McNuggets and the Travis Scott Meal promotion,” she noted.