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.
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