Shares of McDonald’s (NYSE: MCD) rose despite the company missing analyst estimates in its recent second-quarter results. Customers have begun to push back against higher prices, prompting the company to extend its $5 Meal Deal Promotion.

Shares of McDonald’s increased by approximately 11% compared to their IPO price after a 23% rise. The latest share price was $62,800, resulting in a market valuation of $6.5 billion. The company extended its $5 Meal Deal after a decline in profits.

McDonald’s overcame difficulties with its second-quarter results. The company’s revenues amounted to $6.5 billion, below the analyst forecast of $6.6 billion. Same-store sales declined by 1%, marking the first negative growth since late 2020. Adjusted earnings per share fell by 6% year over year, reaching $2.97.

Analyst DW noted that low liquidity amplifies the effect of sales, citing the unresolved situation with Mt. Gox and the seasonal low liquidity after the Bitcoin 2024 conference. Independent analyst Mags pointed to potential recovery with a buy signal from hash ribbons, suggesting that dips could present buying opportunities as long as Bitcoin stays above $60,000.