A large restaurant chain is getting in on the fun with a clever wordplay capturing retail traders versus hedge fund story that took over the stock market over the past two weeks.
What Happened: Popeyes Louisiana Kitchen is hoping to gain some additional customers and fans through a timely promotion featuring some of the hottest stocks on the market.
The company, owned by Restaurant Brands International Inc QSR, is offering free chicken tenders for customers on its app.
“Tendies aren’t for the elite few. They’re for everyone,” the promotion reads in a nod to tendies being a slang term for gains or profits to traders.
Users can get the free tendies by using any of the stock related codes of $GME, $AMC, $NOK or $BB. The codes refer to GameStop Corp GME, AMC Entertainment Holdings AMC, Nokia Oyj NOK and BlackBerry BB.
Why It’s Important: Popeyes has 237,000 followers on Twitter. Its tweet about the promotion was retweeted by nearly 5,000 people and gained over 14,000 likes.
The company’s chicken sandwich became a viral sensation that saw increased traffic and long lines at stores. The boost helped sales of the restaurant brand and the parent company.
As restaurant companies try to adapt to online ordering and orders done through apps, Popeyes could get a significant media boost from mentions of this promotion. This is the kind of promotion that could be unrecognized by analysts at the moment and lead to strong quarterly same-store sales growth if successful.
QSR Price Action: Shares of Restaurant Brands International are up 3% to $60.82 on Tuesday.
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