The stock price of McDonald’s Corporation (MCD) has risen up by over 0.86% today till the late morning trading session. Since the open on Monday, the stock price of McDonald’s has risen by over 2.5%. The stock closed at $157.47 on Tuesday.
McDonald’s is a fast food company that was founded in 1940 as a restaurant operated by Richard and Maurice McDonald, in San Bernardino, California, United States. They rechristened their business as a hamburger stand. The first time a McDonald’s franchise used the Golden Arches logo was in 1953 at a location in Phoenix, Arizona. In 1955, Ray Kroc, a businessman, joined the company as a franchise agent and proceeded to purchase the chain from the McDonald brothers. McDonald’s had its original headquarters in Oak Brook, Illinois, but has approved plans to move its global headquarters to Chicago by 2018.
McDonald’s is jumping on the plastic ban train. The chain announced Wednesday that it would phase out plastic straws from its 1,300 U.K. restaurants and begin a trial of paper straws in some of its locations starting in May. The fast food chain will also begin keeping straws behind the counter, requiring customers to ask for them. McDonald’s U.K. CEO Paul Pomroy told Sky News that “customers have told us that they don’t want to be given a straw and that they want to have to ask for one, so we’re acting on that.”
While the existing plastic straws are already fully recyclable, McDonald’s has found that most customers throw them away. More than 8.5 billion single-use straws are used across the U.K. each year. With the exception of its drink lids, McDonald’s says the majority of its packaging is already recyclable. It hopes to find a solution to a recyclable lid “within the next year.”
McDonald’s joins a growing number of retailers who have decided to do away with plastic straws across the U.K., including pub chain Wetherspoons and Pizza Express. A number of cities across the U.S. have similarly put laws in place limiting or banning the use of plastic straws.
Meanwhile, McDonald’s Corp. has a problem in India and its rivals are loving it. Even as the world’s largest restaurant chain tries to woo Indian stomachs with such menu items as the McAloo Tikki (a potato and pea patty on a bun), a legal dispute with a key franchisee partner has hampered its expansion. Shares of India’s Domino’s Pizza operator Jubilant Foodworks Ltd. have more than doubled in the past year as the country’s biggest quick-service outlet benefits from a surge in online orders for home pizza delivery.
A pickup in the economy and growing demand from the planet’s largest youth population are boosting fast-food sales in India. Researcher Euromonitor International predicts the market will expand 5.8 per cent to $21.2 billion this year — a 50 per cent jump since 2008. Domino’s and Subway have gained share, eroding McDonald’s hold, Euromonitor data show
Our analysts have given a “HOLD” rating to McDonald’s stock. Although it shows great potential, however due to the fluctuation, this is not the stock where you want invest big right now.