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We are looking at Texas Roadhouse today.
Shares of Texas Roadhouse were down more than 3% on Wednesday, Jun 6th 2020. The restaurant chain wasn't the only stock that lost some value on Wednesday. Earlier in June, quite a lot of hedge funds started to load up on restaurant stocks to take advantage of the lower prices. It seems that investors want to lock their gain and are still not 100% sure about the future of restaurants. Therefore, short-term gain suffices for now.
The company is among restaurants with a strong balance sheet. It's got no debt, and has stopped paying dividends for now. Assuming that at some point the society goes back to normal, and people woudl go out to eat, this is a stock that can go back to stable oeprations and growing revenue.
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