Shares of McDonald’s Corp. jumped as much as 2.7 percent on Monday afternoon, the biggest percentage gain in months for the world’s largest restaurant company, amid social media speculation that a major investor might be eating up the shares.
Shares of McDonald’s rose as high as $97.30 on Monday afternoon before ending the trading session at $96.22. Even with Monday’s pop, McDonald’s shares are still down about 0.8 percent so far this year as the hamburger chain deals with sales declines at its longstanding locations. The volume of shares traded was more than three times normal.
On Twitter, people speculated whether a large investor, particularly well-known activist investor Carl Icahn, might be interested in the stock. Oak Brook-based McDonald’s said it was aware of the rumors and had nothing to share.Read the Full Article