Why Restaurant Stocks Jumped on Monday
Shares of restaurant stocks jumped again on Monday after another round of good news about a coronavirus vaccine. Shares of Ruth's Hospitality Group (NASDAQ: RUTH) rose as much as 11.6%, Bloomin' Brands' (NASDAQ: BLMN) stock was up 10%, and Denny's (NASDAQ: DENN) was up 10.5% at its high. The shares closed the day up 8.7%, 5.1%, and 6.3%, respectively.
For the second week in a row, investors are bidding up shares of food and entertainment stocks on the back of positive vaccine news, this time from Moderna. The company released data today that showed its vaccine is nearly 95% effective against COVID-19, which follows positive news from Pfizer last week.
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Source Fool.com
