Why Shake Shack Shares Tanked Despite Improving Sales
Long-term Shake Shack (NYSE: SHAK) investors are no strangers to high peaks and deep valleys. Since the better-burger chain came public in early 2015, it's been a roller-coaster ride as the stock has risen on impossibly steep expectations, only to retreat when those expectations don't transpire.
This year has been no different. After more than doubling and reclaiming all-time highs, shares have been in double-digit retreat -- especially after the company provided third-quarter 2019 results. The wild share price action is actually masking a rock-solid business, though. It's one that has managed to deliver strong growth as Shake Shack expands around the U.S. and abroad in spite of stiff competition in the restaurant industry.
Source Fool.com
