Why Shake Shack Stock Jumped Today
Shares of Shake Shack (NYSE: SHAK) were on the rebound today, making a surprising comeback on a day when restaurant stocks generally fell.
The fast-casual burger chain likely benefited from a tailwind in the market as the S&P 500 rose 6% on hopes for a stimulus bill from the federal government that could put cash directly in Americans' pockets at a time when many are getting laid off or seeing income decline from the coronavirus crisis.
On Monday, Shake Shack announced that it was converting to a "To-Go" model temporarily because of the COVID-19 situation. It also pulled its guidance for the year.
Source Fool.com
