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Hooters Franchisee Surges 41% on Cryptocurrency Rewards Program

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Gross, Yellen, Stiglitz, Gartman on Bitcoin

Add Chanticleer Holdings Inc. to the list of companies racking up big stock-market gains by jumping on the cryptocurrency bandwagon.

Shares of Chanticleer, a Charlotte-based Hooters franchisee and owner of burger joints across the U.S., surged 41 percent on Tuesday after announcing plans with Mobivity Holdings Corp. to start a blockchain-based customer loyalty program with digital “Mobivity Merit” tokens. Chanticleer, whose stock is still down more than 75 percent over the past three years, was valued at $11.3 million after Tuesday’s rally.