Why Restaurant Stocks -- and Beyond Meat -- Imploded Today
You knew this was coming, but now it's actually come -- and now we see the effect.
Over the weekend, state governments began demanding that restaurants and bars close their doors in response to federal government exhortations toward "self-quarantining" and "social distancing" to slow the spread of coronavirus.
At last report, 14 states -- roughly one out of every four in the Union -- have announced restaurant and/or bar closures. As of 3 p.m. EDT, shares of Brinker International (NYSE: EAT), Wendy's (NASDAQ: WEN), and Shake Shack (NYSE: SHAK) are down 37.5%, 20.2%, and 11.9% respectively.
Source Fool.com
