Amid the market volatility, four restaurant and snack stocks are holding up better than Bitcoin and Nvidia.
Over the past 6 months, Cheesecake Factory shares alone gained more than 70%, while Nvidia fell by double digits.
Which Snack Stocks Outran the Bitcoin Price and Nvidia?
Cheesecake Factory climbed 72.86% over six months as of Friday’s close. The restaurant chain has also more than doubled over the past year.
Wingstop rose 20.47% in the same period. Still, the chicken wing chain remains down more than a third on a 12-month basis.
Krispy Kreme added 14.25%, helped by a 31% jump on Thursday. The donut maker had lifted its full-year revenue outlook a day earlier.
Monster Beverage gained 8.22% over six months. Over 12 months, the energy drink maker is up more than a third.
By comparison, the Bitcoin price landed near the bottom of the ranking. Only Nvidia did worse, with a loss of more than 12%.
What Dragged BTC and Nvidia Down This Week?
The same selloff hit both chips and crypto this week. Fears of tighter rules for AI data centers drove Thursday’s Nasdaq selloff after Democrats won both chambers of Congress.
Senator Bernie Sanders has already called for a data center moratorium. Nvidia fell 9.26% on Thursday and lost its spot as the world’s most valuable company to Apple.
Bitcoin followed the tech rout. Its post-election rally collapsed, and the asset now trades near $76,000.
Crypto stocks had already struggled before the midterms. Shares of Coinbase, Circle, and Robinhood have fallen 40% to 56% in a stealth bear market. Angel investor Jason Calacanis has even predicted a Bitcoin crash to $57,000.
Nvidia reports quarterly earnings on November 17. A weak report could add pressure on the Bitcoin price after Bitcoin’s shocking 48 hours this week.
