Dine Brands Global Inc (NYSE:DIN) stock was surging Tuesday as the company’s subsidiary IHOP recently changed its name to IHOb and revealed what the “b” means in its name.
Fans of the popular pancake chain were confused when IHOP changed its name to IHOb until the chain revealed on Monday that it is a temporary replacement as part of its marketing campaign to promote its burgers. Investors with a stake on Dine Brands Global are hoping that the name shift will help bring in more interest in the restaurant and propel the stock’s momentum as they year progresses.
The company made headlines on social media last week as it said that it would temporarily change its name to IHOb, encouraging customers to try and guess what the “b” was representing. IHOP changed its name as part of an initiative to highlight its lunch and dinner menus, despite the fact that the company is mostly known as a breakfast place.
The chain said that as part of its new campaign, it will be adding several non-breakfast menu items, including burgers such as the Big Brunch burger. “We are definitely going to be IHOP,” IHOP president Darren Rebelez says in a statement. “But we want to convey that we are taking our burgers as seriously as our pancakes.”
DIN stock was up about 4.8% Tuesday on the news.