Shares of Jack in the Box (NASDAQ:JACK) dropped 3.3% after selling its Del Taco subsidiary for $119 million, taking a significant loss on the $585 million acquisition made in 2022. This move is part of a plan to reduce debt and shift to a new business model. The market reacted, but previous moves show that this news may not fundamentally change the company’s perception. Analysts previously raised the price target to $25 from $16, indicating optimism. Jack in the Box is down 54.3% for the year, trading 56.1% below its 52-week high.

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