Yahoo Finance Why Are Jack in the Box (JACK) Shares Soaring Today
What Happened:
Shares of fast-food chain Jack in the Box (NASDAQ:JACK) jumped 9.5% in the morning session after the company reported first quarter results that beat analysts' gross margin, adjusted EBITDA, and EPS expectations. On the other hand, its same-store sales unfortunately missed analysts' expectations, leading to a revenue miss as well. While full year guidance was broadly lowered, the company did mention that "sales have improved since its [Smashed Jack product] introduction in mid-March". Overall, this quarter's results were mixed.
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What is the market telling us:
Jack in the Box's shares are not very volatile than the market average and over the last year have had only 3 moves greater than 5%.
Jack in the Box is down 33.3% since the beginning of the year, and at $55.83 per share it is trading 43.8% below its 52-week high of $99.41 from July 2023. Investors who bought $1,000 worth of Jack in the Box's shares 5 years ago would now be looking at an investment worth $720.62.
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