Shake Shack's Earnings Shake Investor Confidence
Changes to Shake Shack's (NYSE: SHAK) third-party delivery providers as well as new investments drove the burger joint to miss analyst fourth quarter sales forecasts and caused guidance for the coming year to be below expectations.
Because Shake Shack also reported on the same day the stock market plunged over 1,000 points due to the novel coronavirus outbreak, not even handily beating Wall Street's expectations of a quarterly loss could stop the restaurant's stock from tumbling 11% on the news.
Image source: Getty Images.
Source Fool.com
