Why did Muscle Maker Inc. (GRIL) stock perform well on Friday?

Muscle Maker Inc. (GRIL) shares soared 12.61% in after-hours on Friday, October 29, 2021, and closed the weekly trading at $1.25. Even in the regular trading session, GRIL’s stock gained 2.78%. GRIL shares have fallen 31.48% over the last 12 months, and they have moved up 9.90% in the past week. Over the past three months, the stock has lost 9.02%, while over the past six months, it has declined 25.50%.

Let’s see what are the latest news about the company?

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GRIL subsidiary expansion

On September 15, 2021, Pokemoto, which is a subsidiary of Muscle Maker Inc (GRIL) opened at four new locations along with two coffee shops on campuses at Northern Virginia Community College (NOVA). The NightHawk Cafés will offer various grab and go menu items, coffee, breakfast, a snack on the run, or dine-in options with a poke bowl, burrito, or salad.

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GRIL Pokemoto new menu

On September 09, 2021, Pokemoto announced it entering the chicken wars 2021 with the launch of its newest limited time only menu item, Hawaiian Nugs, featuring crispy Karaage Chicken and two uniquely flavoured dipping sauces. The Japanese inspired Hawaiian chicken nuggets offers a completely new twist by combining Karaage Chicken with the freshness and unique flavours of Hawaiian Poke.

GRIL new Bubble tea program

On September 02, 2021, Muscle Maker, Inc.’s (GRIL) subsidiary Pokemoto, launched a new Bubble tea program to expand its current beverage lineup. The introduction of Bubble tea fills a gap in the beverage menu while capitalizing on current consumer trends.

GRIL recent financial results

On August 19, 2021, Muscle Maker, Inc ( GRIL) announced the posting of its second-quarter 2021 financial results for the 13 weeks ending June 30, 2021.

Q2 2021 financial highlights

  • GRIL total revenue was $2.74 million in Q2 2021 compared to $0.84 million in Q2 2020.
  • Total cost and expenses were $5.06 million compared to $2.3 million in Q2 2020.
  • It suffered a net loss of $1.12 million or net loss per basic and diluted share of $0.07 in Q2 2021 compared to a $1.5 million net loss per basic and diluted share of $0.21 in Q2 2020.

Partnership with Snackpass

On July 06, 2021, GRIL subsidiary, Pokemoto, partnered with Snackpass, a social e-commerce platform with 500,000 users across 13 markets, primarily college towns. As part of the partnership, Snackpass will provide Pokemoto with a range of services.

The Snackpass smartphone app allows customers to order ahead and get rewards and deals from Pokemoto, but also lets them see what their friends are ordering, send gifts of points and food, and allow group orders.

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There is no recent news available at the moment which could justify its recent performance on Friday. we can expect it to continue its positive momentum on Monday as well.

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