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.
Here's an interesting headwind that McDonald's Corporation (NYSE: MCD) and other fast-food restaurants have to deal with: more Americans are bringing homemade lunches to work and cooking dinner at home.
McDonald's CEO Steve Easterbrook didn't directly acknowledge this new trend when he hosted a conference call on Monday to discuss the company's second quarter results. He did, however, say there is a "broader level of uncertainty" in the market, which has resulted in a "fairly well-documented consumer slowdown."
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!
McDonald's reported a 1.8 percent gain in its U.S. same-store sales, which comprises restaurants open at least 13 months. Starbucks Corporation (NASDAQ: SBUX) and Dunkin' Brands Group, Inc. (NASDAQ: DNKN) also reported slowing traffic growth, which may signal that consumers are not only eating out less often but also cutting back on trips to the coffee stores.
A McDonald's breakfast consisting of a McMuffin, milk and orange juice is around $5.38. The same meal, if duplicated at home with items purchased at a grocery store such as Wal-Mart (NYSE: WMT) could cost just $1.65.
Related Link: The Skinny On Getting Your Whole Life In Shape, From Budgeting To Belly Fat
The same can be said for a daily trip to the coffee shop. Starbucks sells Keurig (NASDAQ: GMCR) pods for less than $1 a unit which saves the consumer at least a $1 a day -- and even more for heavy coffee drinkers.
It's no secret that preparing food at home is cheaper than eating out. Naturally, should this trend grow, it will place additional pressure on restaurant operators. The pressure restaurants face would be even greater if the U.S. economy falls into a recession, an outlook that Stifel's restaurant analyst Paul Westra explored in a research note earlier this week.
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.