Protests Against McDonald’s Corporation (NYSE:MCD)
Tecoma is a quiet and tranquil village that has a population of 2,000 people. It is situated in the temperate rainforest of Australia. Protestors from the village are up in arms against McDonald’s Corporation (NYSE:MCD), one of the most-recognized brands in the world.
The quiet community
The point of contention is the 24-hour drive through restaurant that the company is constructing in the village that stands 20 miles east of central Melbourne. The protestors say that this restaurant is in close proximity to a primary and nursery school and that it would erode the fabric of the community and also harm the other businesses there. The community is known for its wildlife and artists.
The protest continues
The local council had initially rejected the restaurant plan. But McDonald’s Corporation (NYSE:MCD) won the appeal that it had filed in the state planning-tribunal and the construction work is now in progress. This fight has been going on for 2 ½ years now and has spanned 2 continents. Last month, 97,000 people signed a petition that was delivered by the protestors to McDonald’s Corporation (NYSE:MCD) global-headquarters that are situated in Chicago.
Wednesday’s trading session
In Wednesday’s trading, McDonald’s Corporation (NYSE:MCD) dropped by 0.88%. The shares opened at a price of $95.58, climbed to an intraday high of $95.88 and dipped to a close of $95.28. Approximately 7.25 million shares were traded on Wednesday while an average volume of 4.77 million shares were traded over a 30 day period. The 52-week low of the company’s shares is $83.31 and its 52-week high is $103.70. The company has a market capitalization of $95.25 billion.
About the company
McDonald’s Corporation (NYSE:MCD) franchises as well as operates McDonald’s restaurants in the international restaurant industry. The restaurants serve menu at different price-points and provide value in 119 countries across the world. All the restaurants are operated by the Company itself or by franchisees.