Restaurant stocks end year higher on strong finish
This post is part of the On the Margin blog.
Last year was not a good one for restaurant stocks.
Oh, sure, restaurant stocks finished up 2.8 percent for the year, according to the NRN Restaurant Index, thanks to a bullish finish, as investors put some faith in a 2017 comeback.
But that 2.8 percent was hardly world-beating. Consider this: The S&P 500 Index rose 9.5 percent in 2016. The Russell 2000 index climbed 19.5 percent. And the Dow Jones Industrial Average grew 13.4 percent.
That 2.8 percent was far below average, given investors’ overall bullishness.
But in the