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

30 Aug 2021

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