The stock plummeted after the company posted an earnings miss on Wednesday, May 23.
The company was expected to post earnings of 74 cents per share according to experts. However, the company posted 69 cents per share.
Zack's expected the burger company to post revenues of $430.6 million, but Red Robin missed that by $9 million.
"We are taking steps to improve sales and traffic trends while continuing to make strides on productivity, which is critical to ensure we can deliver great service and value despite rising costs," said Denny Post, CEO of Red Robin.
The company had fallen nearly 18% when the market closed on Wednesday.