Why I'm Cautiously Purchasing Shake Shack Stock During the Coronavirus Lockdown
When I predicted things would get rough for Shake Shack (NYSE: SHAK) in the first quarter of 2020, a pandemic-fueled economic crisis is hardly what I had in mind. Nevertheless, after opening 73 new stores last year (ending 2019 with 275 total), entering new markets in major U.S. cities, introducing new menu item hits like Chick'n Bites, and outlining plans for as many as 77 more Shack openings in 2020, the better-burger chain has found itself navigating a life-or-death situation.
The economic lockdown to combat coronavirus is only just beginning to ease in the U.S., and plenty of question marks remain. But Shake Shack's enduring popularity, quick adaptation to predominantly digital and to-go ordering, and fresh cash infusion has it in pretty good shape -- considering the situation.
Image source: Shake Shack.
Source Fool.com