McDonald’s (MCD) Stock Drops as Netflix Happy Meal Push Runs Into a Tougher Fast-Food Market
McDonald’s shares dropped nearly 3% Monday after Erste Group downgraded the stock to Hold, citing slower profit growth. The move comes as McDonald’s prepares to launch a “Stranger Things” Happy Meal promotion with Netflix on May 5. The stock traded at $291.08, down $8.28. McDonald’s has also introduced new value meals amid rising competition and consumer price sensitivity.