Shares of RAVE Restaurant Group, Inc. (NASDAQ: RAVE) soared 127.63% on heavy volume in the trading session of Wednesday. Trading volume jumped to 66.88 million as compared to the average volume of 1.40 million. This strong performance of the company highlighted the positive sentiments of investors after the company announced the hiring of two new executives.
RAVE Restaurant which is the parent of Pizza Inn and Pie Five Pizza has named, Darren Webb, as director of development of RAVE, supporting Pizza Inn and Pie Five, and Dion Firooznia as the franchise business consultant for Pizza Inn. Darren Webb and Dion have huge experience in developing well-known brands.
Darren Webb has earlier worked as the director of real estate for Bojangles’ Restaurants, Inc. Not only this but he also served as the real estate manager or Sam’s Xpress Car Wash, LLC, and director of franchise real estate for Take 5 Oil. Webb has the experience of 15 years in spurring development throughout the Southeast. In RAVE, he will increase the relations with franchises by expanding franchise agreements with existing owners to grow their portfolio with RAVE.
The second executive, Dion Firooznia, has 26 years of industry experience. He worked at Bojangles’ Restaurants, Inc. as the regional vice president before serving as an operating partner for 14 Qdoba Mexican Eats Restaurants in Charlotte and Raleigh, North Carolina. Webb and Dion both worked together earlier in Bojangles’ Restaurants, Inc. Now they both worked in RAVE as a team to increase the business of RAVE Restaurant Group, Inc.
RAVE Restaurant Group, Inc. (NASDAQ: RAVE) shares were trading up 127.63% at $1.17 at the time of writing on Wednesday. RAVE Restaurant Group, Inc. share price went from a low point around $0.38 to briefly over $2.85 in the past 52 weeks. It has moved up 207.89% from its 52-weeks low and moved down -58.95% from its 52-weeks high. RAVE market cap has remained high, hitting $18.84M at the time of writing.