Why Wingstop Stock Rallied This Week
Shares of Wingstop (NASDAQ: WING) climbed sharply higher this week, surging as much as 22.6%, according to data provided by S&P Global Market Intelligence. As of the market close on Friday, the stock was still up 20.5%.
The fast-casual chicken-wing restaurant had a couple of distinct catalysts that could have propelled the stock price higher.
The biggest and most likely contributor to this-week's boom was the recent announcement that Wingstop is offering a new chicken sandwich in "12 bold flavors." The news dropped in late August, but interest was reignited when CEO Michael Skipworth appeared on Yahoo! Finance Live. Wingstop is offering a unique take on the lunch staple by taking a naked chicken patty and dipping it in one of the company's 12 signature sauces.
Source Fool.com
