Why Shake Shack Stock Fell Today
Shares of Shake Shack (NYSE: SHAK) sank on Thursday after the restaurant chain issued a tepid growth forecast. As of 3:30 p.m. ET, its stock price was down more than 6%.
Shake Shack's revenue rose 23.1% year over year to $230.8 million in the second quarter. That was below Wall Street's expectations. Analysts had projected revenue of $238.4 million.
Shake Shack's growth was fueled by new restaurant openings. It opened five company-operated stores and eight licensed locations during the quarter, bringing its total store count to roughly 395 locations.
Source Fool.com
