Toast shares rose 1.64% today, bucking a broader technology sell-off that pushed the Nasdaq Composite down 0.8% and the S&P 500 lower by 0.4%. Investors cited robust order flow and an upgrade to ‘Overweight’ from a leading broker, which pointed to accelerating bookings growth in the current quarter. Trading volume for Toast surged 45% above its 30-day average, signaling heightened institutional interest after management confirmed a record number of new restaurant contracts signed in the last reporting period.

Parent company Drive Shack’s expansion of Toast POS at Topgolf venues is expected to deliver a 20% reduction in order processing times and a 15% improvement in labor utilization, based on pilot tests at five flagship locations. Topgolf venues processed an average of 12,000 orders per month through the new system during the trial, driving a 7% uplift in average spend per guest. Management forecasts that full rollout across all 78 Topgolf sites will contribute an incremental $10 million in annualized revenue for Toast’s payments segment starting in Q3.