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Wednesday, May 18, 2022

FAT Brands Inc. (FAT) Stock Surged 11.45% On Friday, Here’s Why

FAT Brands Inc. (FAT) stock soared 11.45% in the current-market trading session on Friday at the price of $6.13 despite no fundamental reason.

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FAT Brands is a top multinational franchise business. The company acquires, devices, and markets quick-service and casual dining solutions worldwide. FAT currently owns and manages seventeen restaurant brands and franchises with 2,300 branches across the globe.

FAT First Theme Park Location

On 18th April 2022, FAT reported that Fatburger has rolled out its first theme park at Six Flags Great Adventure in Jackson, New Jersey. The cafeteria is the second Fatburger in this state and will deliver parkgoers its crispy fries, burgers, and milkshakes.

Ever since the opening of the first Fatburger in Los Angeles, the chain remained famous for its cooked-to-order, grilled-to-perfection, and delicious burgers. In addition to these tasty burgers, the Fatburger menu contains Chili Cheese Fries, Skinny Fries, and milkshakes.

The stock keeps exploring more opportunities to advance towards more profitable growth. While there are several other attractions at the park, the management is hopeful that its delicious fries and burgers will be the first to captivate the customers. This first Fatburger location will boost the food offerings by bringing a flavor of Hollywood to the park.

FAT Q2 Cash Dividend

Additionally, on 18th April 2022, FAT reported the company’s cash dividend of US$0.13 per share for Q2 of fiscal 2022 on each share of Class A and Class B common stock. The cash dividend is payable to holders of record of Class A and Class B common stock on 1st June 2022 and 16th May 2022, respectively.

FAT Business Outlook

On 15th December 2021, FAT acquired Fazoli’s for US$130M and Native Grill & Wings for US$20M. After the successful integration of these acquisitions, the company estimates the deals will result in a positive EBITDA of US$45M to $50 for 2022. For the year 2022, the stock is well-positioned to expand its growth with an addition of over 120 new zones. FAT anticipates an increment in system-wide sales to US$2.3B for 2022.

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