NEW YORK (CNN) – “March Madness” is likely to trigger a flood of business for fast food and pizza restaurants. That might not be good for your diet, but it could be great for the stock market.
Forget winning your bracket. That victory is just short-term. What about picking a winning investment for the long-term? As the NCAA Basketball Tournament gets underway, some restaurant shares are a slam-dunk on Wall Street.
Domino’s pizza has gained more than 13% in 2014, hitting an all-time high just this week.
Last year, the company sold more than 1.7 million pizzas during the “March Madness” semi-final and championship games. Analysts expect domino’s to keep benefiting from a 50%-off pizza deal, which runs through Sunday.
Online ordering has provided a boost as well, both to Domino’s and rival Papa John’s, which also touched a record high this week. More consumers are opting to order through mobile apps on their smartphones, instead of making an actual call.
It’s not all about the pizza though. Chicken wings remain a popular choice during the big games.
Shares of Buffalo Wild Wings are up almost 5% since the start of 2014. The tournament is the second-busiest time of the year for the chain, behind only professional football in the fall. Part of the success has been because it’s been cheaper for it to buy bulk chicken wings.
The run-up for these shares goes to show “March Madness” may refer to more than just the basketball teams.