Why Del Taco's Stock Is Trading Higher Today

Del Taco Restaurants (NASDAQ: TACO) shares traded higher on Tuesday.

There was no company-specific news to justify the price action, however, equities were trading higher today on stimulus hopes, a potential capital gains tax cut and after Russian claimed to have given regulatory approval for a COVID-19 vaccine.

In addition, it's possible there may have been some confusion around the ticker, as cryptocurrency traders circulated news about the "taco" digital currency using the same ticker as Del Taco: $TACO.

Del Taco is a restaurant operator company. It is a franchisor of restaurants featuring fresh and fast made-to-order cuisine, including both Mexican inspired and American classic dishes. The company holds approximately 564 Del Taco restaurants, a majority of these in the Pacific Southwest.

Del Taco shares closed Tuesday's session up 4.88% at $7.84. The stock has a 52-week high of $12.16 and a 52-week low of $2.45.