Portfolio Manger Andrew Wang of Runnymede Capital Management says that Sonic Corporation (SONC) was one of his best-performing service stocks last year, due to the company’s unique experience offerings and ability to retain customers.
“Sonic Drive-In is one of America’s largest restaurant brands and drive-in restaurant chain serving more than 3 million customers every day. Sonic delivers a unique experience because you cannot enter their restaurant; they’re set up like an old-fashioned drive-in with carhop service,” Wang said.
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Wang also says Sonic has had double-digit earnings growth year after year, and the company is looking to expand across the U.S.
“Historically, they were found south of the Mason-Dixon Line in warmer climates. Sonic is committed to expanding across the United States primarily through coast-to-coast franchise development,” Wang said.
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