Cracker Barrel shed almost $100 million in market value after its stock plunged Thursday following the release of a new logo. The new design eliminates a longstanding drawing of an overall-clad man leaning against a barrel, in favor of a cleaner logo featuring just the chain's name.

Shares of Cracker Barrel fell $4.22, or 7.2%, to $54.80 in Thursday trading, shedding $94 million in market value. The stock had dipped to a low of $50.27 earlier in the day, representing a loss of almost $200 billion in its capitalization.

The slide appeared to be halted on Friday, with Cracker Barrel's shares up roughly one point, or 1.3%, as of 12:03 p.m. EST.

Wall Street's reaction to the logo redesign comes as Cracker Barrel has been working to refresh its image through new menu items and redecorated s

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