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Hooters shares jump 50% after moving into blockchain tech

Hooters moves into blockchain tech, sees shares rise 50%

By Anthony Garreffa from Jan 2, 2018 @ 21:05 CST

We all know everything cryptocurrency and blockchain technology is the next big thing, but now Hooters is joining in on the fun - yes, 'that' Hooters.


CNBC reports that Hooters announced it would be moving its customer loyalty program onto blockchain, and then pushing out a cryptocurrency called Mobivity Merit, seeing Hooters shares leap by 50%.

Michael Pruitt, Chairman, President, and CEO of Chanticleer Holdings (the parent company of Hooters) explained: "We wanted to expand our existing loyalty program with something that really changes the way our customers can leverage their rewards; Mobivity Merit is real cryptocurrency, leveraging the same infrastructure and principles of Bitcoin, Ethereum, Ripple, Litecoin, and more, and will enable our customers to make use of their rewards in entirely new ways".

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