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Shake Shack Is Back After Q3 Beat

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Shake Shack Inc (NYSE: SHAK) shares are trading higher by $5.30 (15 percent) at $38.56 in Thursday's session. The catalyst for the explosive rally is a Q3 beat of a penny along with about a $5 million beat for revenues.

Following a sharply higher open, it retreated only $0.18 to $35.75 before continuing its move higher. It has continued to make new highs for the session with the current one standing a $38.97.

That high exceeds its August 12 high of $38.48, but is still well shy of its August 11 high of $39.74.

The issue is now nearly $7 higher than its pair of lows from Tuesday and Wednesday at $31.90.

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