Comment on The reason why McDonald's stock is soaring despite a big earnings miss: Value meals

The reason why McDonald's stock is soaring despite a big earnings miss: Value meals

McDonald's is extending its value meal deal after seeing increased foot traffic from lower-income consumers.Mario Tama/Getty ImagesMcDonald's global comparable sales fell 1% year-over-year last quarter, missing analyst estimates.But the fast-food giant's stock is up more than 4% as its CEO says its $5 value meal is paying off.The company plans to focus on value going forward as low income customers grow weary from inflation.McDonald's missed analyst estimates in its most recent earnings report, but the fast-food giant's plan to bring back value for its customers is striking a chord with investors.The stock rallied 4.5% to $263.22 as of 1:45 PM in New York on Monday following the earnings call.

 

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