AJ Tiarsmith
5 min read
Quick Read
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CAKE stock surged 120% year to date, backed by record Q2 revenue of $1 billion and a decade-high restaurant-level margin of 20%.
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CAKE outpaced Microsoft (up 11%) and NVIDIA (up 17%) year to date, as Fox Business credited viral social media for bringing new customers.
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Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now, and Cheesecake Factory didn’t make the cut. Enter your email to see the names that beat CAKE. The report is free. Enter your email and see if any of your stocks made the cut.
Treasury Secretary Scott Bessent chose a chain restaurant as the setting for his latest political jab. On Monday, he ate at a Cheesecake Factory (NASDAQ:CAKE) near the White House. Afterward he told a Fox Business reporter that former President Barack Obama is “the man who built the museum [that] looks like Darth Vader’s tomb,” which appeared to be a reference to the Obama Presidential Center, CNBC reported.
Bessent added: “I had a great meal, always have a great meal, and I would just tell the Martha’s Vineyard set to give it a try.” He said he ordered “what I always have: the French Dip Cheeseburger,” which CNBC said costs $22.95 at the downtown Washington location. In a follow-up post on X, he wrote: “I recommend the Cheeseburger Spring Rolls.”
How an Ohio Rally Joke Started It
On Saturday, Obama spoke at an Ohio campaign rally for gubernatorial candidate Amy Acton and Senate candidate Sherrod Brown. Talking about President Trump, he said, “I don’t know if you’ve noticed, but he seems very focused on home renovations. He should be on HGTV!” He went on: “There’s gold everywhere. What’s up with the gold?” and “He’s got the White House looking like Saddam Hussein opened a Cheesecake Factory.”
Trump Responds as Commentators Split
Trump answered on Monday: “And for you to say it’s a cheesecake factory, that just shows why you were a lousy president.”
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Commentators split along predictable lines. Republican commentator Matt Whitlock called the comment “Classic Obama snobbery.” Menswear influencer Derek Guy pushed back on the criticism, writing, “This is actually a condescending view of working-class people.” He said his working-class immigrant family went to Red Lobster and The Cheesecake Factory for “fancy nights out.” The back-and-forth comes days before the Nov. 3 midterm election.
