Former President Donald Trump was reportedly seen serving fries at a McDonald’s in Pennsylvania this weekend, causing the fast food chain’s stock to drop during trading hours on Monday.
Although Trump was seen addressing voters and scooping fries from a drive-thru window on Sunday, McDonald’s said the company is not endorsing former President Trump in the November election.
“We learned of the former president’s request and responded through the lens of being open to all, one of our core values,” the company said in a statement to The Associated Press. “McDonald’s has never endorsed any elected presidential candidate, and that’s no different in this race for the next president. We’re not red or blue. We’re gold.”
McDonald’s also said it has invited Vice President Kamala Harris and her vice president, Minnesota Gov. Tim Walz, to serve customers at the restaurant.
However, McDonald’s stock fell 0.53% during trading hours on Monday after Trump’s appearance on Sunday, with some believing the appearance damaged the fast food chain’s reputation among customers. .
Former President Donald Trump serves French fries during a visit to a McDonald’s in Feasterville-Trevose, Pennsylvania, on October 20. McDonald’s stock fell slightly during trading hours on Monday. Former President Donald Trump serves French fries during a visit to a McDonald’s in Feasterville-Trevose, Pennsylvania, on October 20. McDonald’s stock fell slightly during Monday’s trading session. Doug Mills – Pool/Getty Images
However, McDonald’s decline was lower than the average performance of the overall stock market. Dow Jones reported an average price change of -0.80% on Monday.
Alex Bean, a financial literacy lecturer at the University of Tennessee at Martin, said the decline in McDonald’s stock was not large enough to say Trump’s promotional events had a meaningful impact on the company.
“This was an isolated incident at one of the restaurant chains and was not part of the company’s business relationship with President Trump,” Bean told Barron’s. “The overall market was down again today, which means McDonald’s is down along with most other consumer stocks.”
Newsweek reached out to McDonald’s for comment via email.
Both Mr. Trump and Mr. Harris are targeting low-wage workers, who have traditionally augmented McDonald’s workforce, and lower- and middle-class Americans, who are more likely to buy fast food amid high inflation. They are fighting to secure votes.
According to McDonald’s, about 1 in 8 Americans has worked for the fast food giant at some point.
“While it is always unlikely that anti-Trump voters would criticize McDonald’s based on the videos and photos that have come out, the fact is that most voters see this event as it is, and that is why McDonald’s “It’s very unlikely that it will affect whether you buy me a Big Mac and fries any time in the future,” Bean said.
