The stock market inched higher on Monday as investors hoped that banking crisis fears may be easing. This was after the forced $3.2 billion takeover of the Credit Suisse by the UBS brought by the Swiss government.
Overall, S&P 500 was up 0.9% to 3,952, while NASDAQ increased 0.4% to 11,676.
Tweet of the Day
An update from the #MysteryBroker arrived overnight, including a review of his 2022 calls and a generally cautious outlook for this year…
— Michael Santoli (@michaelsantoli) January 19, 2023
Chart of the Day
Here is the one-year chart of Wingstop (WING) as of March 7, 2023, when the stock was at $170.
Wingstop is the largest fast casual chicken wing-focused restaurant chain in the world. As of December 2022, the company has 1959 restaurants in operation with 98% of them are franchises. Management’s vision is becoming a top 10 global restaurant brand, with a goal of 4,000 restaurants in the U.S. and another 3,000 Internationally.
Wingstop delivered outstanding results last quarter, helped by lower costs for chicken wings. Overall, the company delivered 150% profit growth on 46% revenue growth. Chicken wing prices declined 49% year-over-year to help profits.
WING stock has an Estimated Long-Term Growth Rate of 17% a year, but the company seems to have the ability to grow profits 35% a year.
WING is part of the Growth Portfolio.
