Following a rocky market over the past several months, McDonald’s (MCD) reached over 128 points (highest: 128.52) today, marking an all-time high for the international corporation. When the market closed on Wednesday, the stock was at 127.52 points.
McDonald’s currently has 2,800 restaurants in China, Hong Kong, and South Korea, and it expects to establish 1,500 more in the next five years. Of these new restaurants, 87 percent (1,300) will be added in China, where there are already 2,200.
The added 1,500 locations will only increase McDonald’s total 36,000 locations by 4.2%, but the company hopes that the 1.4 billion-person influence in the region will greatly increase their business opportunity overall.
(H/T The Motley Fool, LLC, via Fox Business)
Follow the author on Twitter: @rsaydlowski.