Investors Were Ravenous for These 2 Stocks Wednesday
The stock market continued to rise on Wednesday, giving gains of almost 1% to the Dow Jones Industrial Average (DJINDICES:^DJI), S&P 500 (SNPINDEX:^GSPC), and Nasdaq Composite (NASDAQINDEX:^IXIC). Sentiment has turned on a dime since Monday's sell-off, and investors seem more confident than ever that the economic recovery can defy threats like rising inflation and higher incidence of COVID-19 infection.
Restaurant stocks turned out to be a hotbed of strength on Wednesday. Chipotle Mexican Grill (NYSE:CMG) heated things up considerably, but newer concepts like Kura Sushi USA (NASDAQ:KRUS) also made waves. Below, we'll look more closely at why both of these stocks are climbing sharply.
Shares of Chipotle Mexican Grill finished higher by nearly 12% on Wednesday. That was easily enough to take the Mexican food specialist to a new all-time record high, as shares have jumped 33% just since the beginning of 2021.
Chipotle's gains came after strong second-quarter earnings results. The fast-casual chain saw revenue soar 39% from the year-ago quarter, as comparable restaurant sales climbed 31.2%. Chipotle's earnings performance was even more impressive, with adjusted figures …
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