Here's Why Many Restaurant Stocks Surged in April
Shares of many restaurant stocks rose dramatically in April. According to data from S&P Global Market Intelligence, Applebee's and IHOP parent Dine Brands (NYSE: DIN) gained 54.8% and brewhouse chain BJ's Restaurants (NASDAQ: BJRI) posted a 57.4% return. Outback Steakhouse and Carrabba's Italian Grill parent company Bloomin' Brands (NASDAQ: BLMN) did even better, scoring a gain of 68.8%.
All of these restaurant chains, and many more, rose in response to good tidings in the COVID-19 battle. Government officials from the local to the federal levels signaled a quick end to the lockdown and quarantine policies of March and April, which would allow casual dining restaurants to expand beyond takeout and delivery options.
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Source Fool.com
