Historically, McDonald's $5 value meal offerings have boosted its share price, according to Wells Fargo.
McDonald's $5 value meal offering could provide a turnaround for the struggling stock, according to Wells Fargo. The deal — which includes a McChicken or McDouble sandwich, four-piece chicken nuggets, small fries and a small drink — debuted on June 25 and will run for a month but may be extended, CNBC previously reported. The $5 meal is approximately a 40% discount compared to core menu prices, Wells Fargo said.
According to analyst Zachary Fadem, McDonald's managed to outperform the S & P 500 by around 75% in the four years after launching its Dollar Menu, which came during a difficult consumer recession. The Breakfast Dollar menu also turned the stock modestly higher, according to Fadem. "Historically, MCD wins when the industry shifts to value," Fadem wrote in a note released Monday.
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