Shake Shack To End Year 60% Off All-Time High

Shake Shack Inc SHAK shares are trading lower by $0.22 at $39.74 in Thursday's session. The issue, which debuted in January at $47, blasted to $96.75 in May.

Based on the market cap at that level, each of its 63 franchises was valued at $53 million -- compare that with the value of an average McDonald's franchise near $3 million.

Since reaching that elevated level, it declined and eclipsed its former all-time low ($38.63), reaching $37.60 before staging a rebound that was halted at $41.68.

Resistance has moved down from the $41 area.

On Tuesday it peaked at $41.06 and on Wednesday at $40.98; in today's session, it came up shy of that area only reaching $40.76, before falling back under $40.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: TechnicalsRestaurantsIntraday UpdateMoversTrading IdeasGeneralPremarket outlook
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!