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Why Dave & Buster's Stock Is Surging Higher Today

TheMotleyFool

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Why Dave & Buster's Stock Is Surging Higher Today

Wall Street is turning more bullish on dine-in restaurants. Many casual-dining stocks are up today, including Dave & Buster's (NASDAQ: PLAY). Shares surged on Wednesday, and as of 12:30 p.m. EDT were trading 24% higher.

The Cheesecake Factory (NASDAQ: CAKE) updated shareholders on its business, and it's possibly contributing to improving investor sentiment for Dave & Buster's. The Cheesecake Factory said it's reopened about 25% of its restaurants with limited dining capacity. Despite this challenge, opened restaurants are doing 75% of the business they were prior to the coronavirus.