Why Habit Restaurants Stock Plunged 21% in August

Shares of Habit Restaurants (NASDAQ: HABT) plummeted 21% last month, according to data provided by S&P Global Market Intelligence, after the fast-casual burger chain delivered disappointing second-quarter results.

Revenue jumped 17.2% to $83.3 million, driven by the 37 restaurants Habit opened during the past year. However, comparable sales at company-operated restaurants inched up only 0.1%, down sharply from the 4% comps Habit enjoyed in the second quarter of 2016.

Despite its delicious-looking "Charburgers," Habit Restaurants' comps were essentially flat in the second quarter. Image source: Habit Restaurants.

Source: Fool.com