Red Robin (RRGB) volatility elevated into shares trading lower on weak traffic

Red Robin (Nasdaq: RRGB) is recently down 10.29% in premarket trading after reporting Q1 revenue of $299.5M, consensus $306.4M. Stephens say’s “Soft traffic offset by cost controls; we see upside from here.” Overall option implied volatility of 60 is above its 26-week average of 40 according to Track Data, suggesting larger price movement.

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