McDonald’s, others consider closing indoor seating amid Delta surge in U.S.

McDonald’s, others consider closing indoor seating amid Delta surge in U.S.

McDonald’s Corp (NYSE:MCD) is trading up 0.22% at 237.48

Some U.S. fast-food restaurants are closing indoor seating areas or limiting hours of operation because of the spread of the Delta variant of COVID-19, according to franchisees.

McDonald’s Corp (NYSE:MCD) had temporarily closed indoor dining at nearly all U.S. locations in early 2020, but it reopened 70% by last month. The global burger chain said on July 28 that it was on track to open nearly 100% by Labor Day – barring any COVID-19 resurgence.

But last week, McDonald’s instructed its franchisees on steps they should take to re-close their dining rooms in areas where the Delta variant is rapidly spreading, according to internal company materials seen by Reuters.

“We have a much deeper sense of what actions make a difference for the safety of our restaurant teams and crew,” McDonald’s USA President Joe Erlinger said during a Wednesday meeting, according to the materials.

In Wednesday’s conference call, McDonald’s executives recommended franchisees consider closing indoor seating in counties where COVID cases exceed 250 per 100,000 people on a rolling three-week average.

The materials did not specify how many locations have shut indoor seating or could soon do so.

On technical fronts McDonald’s Corp (NYSE:MCD) RSI stood at 49.36 and currently stock is trading below all Moving Average. So, SELL position can be taken with following target and stoploss:

TRADE SIGNAL – : McDonald’s Corp (NYSE:MCD) – SELL: 237.48, TARGET: 235.83, STOP LOSS : 239.20

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