FATBB - Fat Brands Class B shares triple on Fazoli's acquisition social media pump

Fat Brand Inc. Class B shares (NASDAQ:FATBB) skyrocketed almost 200% and were halted at some point a day after the company announced it was purchasing Fazoli's restaurant chain for $130M. The Fat Brand (FATBB) shares appeared to be jumping after mentions on social media such as StockTwits, with some mentioning the stock's low float and lack of shares available to short. The Fat Brand Class B shares (FATBB) trading volume is 5.16M compared to average volume of 6,172. Fat Brands Class A shares (NASDAQ:FAT) gained 6.4% after climbing 6.5% yesterday. Fazoli's is known for its freshly prepared pasta, Submarinos sandwiches and signature breadsticks. The chain has over 200 stores currently open with a development pipeline of 100 units over the next several years. Fat Brands, the parent company of Round Table Pizza, Fatburgers, Twin Peaks and Johnny Rockets, is scheduled to report Q3 results tomorrow after the close.

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Fat Brands Class B shares triple on Fazoli's acquisition, social media pump