McDonald's Plunges 6.1% on $8.5 Billion Franchisee Support Plan

McDonald's shares plummeted 6.1% in afternoon trading after the company outlined its NEXT strategy and pledged $8.5 billion in support for franchisees through 2036.

The plan includes $5 billion of that total through 2030, which will be used for rent relief and capital support to speed up restaurant modernization, technology, and operations.

McDonald's said its NEXT strategy aims to make restaurants stronger and easier to run, with a goal of being the first choice for more customers, more often.