Hooters Blockchain: Parent Company's Stock Soars After Mentioning Blockchain
By AJ Dellinger, International Business Times
Chanticleer Holdings, the parent company to Hooters and several other chain restaurants, experienced a massive jump in its stock price after publishing a press release that contained the word “blockchain.”
The company’s stock—listed on the NASDAQ stock exchange as BURG—jumped as much as 50 percent Tuesday, climbing from $2.57 per share to $4.29 per share in an instant. The sock dipped slightly but has remained above $3.60 at the time of publication.
The huge gains for Chanticleer Holdings stemmed from a single press release issued by the company in which it announced that it would put its loyalty program for Hooters—the Hooters HootClub—and other restaurants on the blockchain.
Chanticleer Holdings will partner with MobivityMind, a “blockchain-architected platform for commerce and customer communication across brands,” to power what its call a “groundbreaking cryptocurrency customer loyalty and rewards program.”
“We wanted to expand our existing loyalty program with something that really changes the way our customers can leverage their rewards,” Michael Pruitt, CEO of Chanticleer Holdings, said in the press release...
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