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Monday, Jun 5, 2023

Heavy Trading in Cheesecake Factory Stock

Heavy trading in The Cheesecake Factory shares continued today following reported rumors of a leveraged buyout in the works. Shares in the Calabasas Hills-based restaurant chain began rising sharply on Monday and by Tuesday afternoon were trading at $27.56, up more than 5 percent over Monday’s close, with trading volume more than double the average activity at 3.5 million shares. Analysts generally discounted the rumors of a pending leveraged buyout saying that Cheesecake did not own its own real estate or assets, making such a deal unlikely.

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