Sonic Shares Recover From Data Breach

Sonic Corp. shares have strongly recovered from a significant drop on Sept. 27, when the fast food chain disclosed a massive data breach. The stock briefly fell to its lowest levels in nearly two months after millions of credit and debit card accounts were stolen across its 3,500 restaurants in 44 states. The move follows similar breaches at restaurants like Chipotle Mexican Grill, Inc. in May and retailers such as Target Corporation in the past. Despite the data breach, Sonic’s stock soared more than 3.5% between Sept. 27 and Sept. 29. The massive data breach by Equifax Inc. earlier this year may have desensitized consumers to some extent, while data breaches at other retailers have not necessarily had a lasting impact on sales. Investors appear to remain confident in the stock’s long-term prospects despite the data breach. (See also: Equifax CEO Retires in Wake of Massive Data Breach.)

Sonic shares have posted a strong recovery following a data breach, but uncertainty remains. …read more

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Category: SONC, CMG, TGT, EFX

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