Restaurant Tech Stocks Surge by $16 Billion in a Day

Shares of restaurant technology platform company Toast, Inc. (NASDAQ: TOST) surged 7.38% on the New York Stock Exchange in the most recent trading session, closing at $27.95.
Trading volume reached approximately 8.23 million shares—well above the company’s average—and its market capitalization climbed by about $1.15 billion to roughly $14.4 billion (around ₩20 trillion) in a single day.

On May 7, Toast announced its first-quarter 2026 financial results, reporting annualized recurring revenue of $2.2 billion, up 26% year over year, and net income of $126 million. The company also unveiled its AI-driven marketing solution, Toast IQ Grow, and a new drive-thru platform. (businesswire.com)

By early May, Toast had repurchased about $378 million of its own shares. Then, on May 16, Swiss Life Asset Managers disclosed it sold more than 75% of its stake, reducing its holdings to roughly 50,000 shares. (businesswire.com)

Headquartered in Boston, Toast is a cloud-based restaurant and retail management platform provider that integrates SaaS and financial services across point-of-sale and payment processing, online ordering and delivery, inventory and labor management, and marketing. (en.wikipedia.org)

As of Q1 2026, Toast serves approximately 171,000 locations worldwide, solidifying its position as a leading player in the North American restaurant technology market. (businesswire.com)