Gary B. Smith, president of the Kadina Group, Susan Li of FOX Business, and Phil Flynn, senior analyst at Price Futures Group, on the future of the stock market after the GameStop and Robinhood frenzy.
Popeyes is trying to profit from the short selling stock craze by promoting chicken offers.
“Let’s take these trends,” Popeyes tweeted on Monday while marking the accounts for Mod WallStreetBets, GameStop, AMC Theaters, Nokia and Blackberry.
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“Trends are not for the elite. They’re for everyone, ”says the video attached to the tweet, which says that Popeyes is giving a three-piece portion of chicken to orders placed on the app that add up to $ 5 or more.
Four promotional codes are available for redemption, which can be used at selected locations until February 2, according to the terms of the network’s offer.
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Popeyes’ promotion came at a time when Reddit users caused a storm after they drastically raised the stock price on GameStop, AMC Entertainment, BlackBerry and other struggling public companies.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| GME | GAMESTOP CORP | 225.00 | -100.00 | -30.77% |
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 13.30 | +0.04 | + 0.30% |
| BB | BLACKBERRY LIMITED | 14.63 | +0.53 | + 3.76% |
The organized movement caused the trading platforms to place restrictions or temporary pauses on the affected stocks, which subsequently led day traders to file lawsuits against Robinhood, TD Ameritrade, Charles Schwab and Interactive Brokers.
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Some Reddit users have understood that the Popeyes “Tendies4Yall” promotion means that the fried chicken chain is showing support for WallStreetBets, which is a subreddit that has more than 7.9 million members and is the group that contributed most to stacked stocks .
Fast food chain Popeyes Louisiana Kitchen launched a free chicken offer promotion that requires an in-app purchase of $ 5 or more. The promotion is supposed to support today’s traders, but it can be accessed by anyone. (iStock)
“Popeyes is with us !!!” a Redditor posted on the WallStreetBets subreddit on Monday with a screenshot of the fried chicken chain’s tweet.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| STOCK: QSR | n / a | n / a | n / a | n / a |
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A statement sent to FOX Business by a Popeyes media representative confirmed that the network is on the side of day traders.
“As you know, Wall Street turned upside down last week, when day traders found a way to be smarter than the market. Tendies is the word that retailers on sites like Reddit use to describe money or financial gain – and in our world it is also short for chicken offers, ”says Popeyes’ statement. “After last week’s events, Popeyes, the beloved fried chicken brand, wants to support retailers and believes that they ALL deserve cuts. Popeyes is on the side of people and hopes that by supporting the online community, it will inspire others to take a stand. “
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Paul Conner and Audrey Conklin of the Associated Press and FOX Business contributed to this report.