McDonald's Stock Plummets 31% Amid Menu Price Concerns

McDonald's stock price has plummeted nearly 31% since its February high due to concerns over menu prices and customer dissatisfaction.

The company guided for 'slightly negative' US sales in the current quarter, with a mere 0.8% increase last quarter - their slowest pace in over a year.

Customers have been complaining about rising menu prices, which have increased by around 23% since 2019, according to The Economist's Big Mac Index.

Rivals such as Restaurant Brands International Inc and Yum! Brands Inc-owned Taco Bell are faring better, with Burger King posting an 8.5% increase in comparable sales and Taco Bell seeing a 7% rise in same-store sales.