Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
The next generation of leading restaurant stocks will likely be the ones that take advantage of the huge opportunity in digital ordering. According to Pacific Crest analyst Chris O’Cull, digital ordering represents around a $70 billion growth opportunity within the next five years.
“We are witnessing this same kind of exponential growth [Moore’s Law] in the restaurant industry with the rise of digital ordering: enabling customers to place orders from their own devices for faster, more accurate and more personal service,” NoahGlass, Olo Founder and CEO explains.
Related Link: How Did Retailers Fare In March?
Pacific Crest believes that a tipping point in restaurant delivery is still a couple of years away, but on-demand delivery providers will eventually set up an economical infrastructure that makes delivery pricing viable for restaurant chains.
Pacific Crest names BJ’s Restaurants, Inc. (NASDAQ: BJRI), Buffalo Wild Wings (NASDAQ: BWLD) and Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) as three stocks that could meaningfully benefit from digital ordering. In addition, O’Cull notes that Darden Restaurants, Inc. (NYSE: DRI)’s new Olive Garden catering delivery could contribute meaningfully to same-restaurant sales.
In addition to Olive Garden catering, O’Cull says that Panera Bread Co (NASDAQ: PNRA) is also one of the few restaurants developing small order delivery infrastructure.
While services like GrubHub Inc (NYSE: GRUB) and Yelp Inc (NYSE: YELP) may seem to be in prime positioning to capitalize on this shift, Pacific Crest believes that it will be difficult for those two companies because of restaurants delivering themselves and because of competition from services like Uber, Amazon.com, Inc. (NASDAQ: AMZN) and messaging services.
Disclosure: the author holds no position in the stocks mentioned.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!