Benzinga spoke with a trader on the NYSE floor who said that Shake Shack Inc's SHAK shares will begin trading in a range of $36 to $37, at time of market open.
By 9:52 a.m., it was indicated higher the $42-$44 range. Shortly thereafter, it was in the range of $44-$46.
It was most recently indicated at $47.
Shares were initially valued at $14 to $16 in its preliminary prospectus and has seen its estimated offering price raised to $17 to $19 a share on Wednesday.
Shares are expected to begin trading on Friday.
Image credit: M01229, Wikimedia
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