FAT Brands Inc. is on a rapid growth trajectory, poised for an 85% potential surge in stock value by March 15, 2024. Their robust financial performance and strategic global expansion plan are driving this growth. The company, known for iconic brands like Fatburger and Hurricane Grill & Wings, has navigated industry challenges during the pandemic by expanding its footprint and acquiring new brands such as Smokey Bones Bar & Fire Grill. In 2023 alone, FAT Brands opened 125 new stores and added over 200 locations to its pipeline, focusing on organic growth and entering new markets. Despite a slight dip in same-store sales, the company saw a significant 52.8% year-over-year revenue increase to $158.6 million in 2023.
FAT Stock Shows Positive Momentum with 0.94% Rise on March 15, 2024
On March 15, 2024, FAT stock showed positive momentum as it traded in the middle of its 52-week range and above its 200-day simple moving average. According to data from CNN Money, the price of FAT shares increased by $0.07 since the market last closed, representing a 0.94% rise. The stock opened at $7.47, which was $0.27 higher than its previous close. This strong opening indicated investor confidence in the company’s performance and potential for growth. Investors were optimistic about the stock’s prospects, with it trading above its 200-day moving average suggesting an upward trend in the long term. Overall, FAT’s stock performance on March 15, 2024, was positive, with a price increase and a strong opening. Investors will be keeping a close eye on the company’s future earnings reports and market developments to see if this positive momentum continues.
FAT Stock Performance Review: Revenue Up 17.98%, Net Income Improves 28.59% – March 15, 2024
On March 15, 2024, FAT stock had a mixed performance based on the latest financial data released by the company. The total revenue for the company stood at $480.46 million for the past year, showing a significant increase of 17.98% compared to the previous year. In the fourth quarter alone, the total revenue was $158.64 million, reflecting a robust growth of 45.05% since the previous quarter. However, despite the strong revenue growth, the company reported a net income of -$90.11 million for the year, which was an improvement of 28.59% compared to the previous year. In the fourth quarter, the net income was -$26.24 million, representing a decrease of 6.42% since the previous quarter. Earnings per share (EPS) for FAT stock were reported at -$5.85 for the past year, showing an increase of 23.61% compared to the previous year. In the fourth quarter, the EPS was -$1.68, reflecting a decrease of 5.74% since the previous quarter. Overall, the financial performance of FAT stock on March 15, 2024, showed a mixed bag of results. Investors and analysts will likely closely monitor the company’s future financial reports to assess its long-term growth potential and profitability.
