Investors have developed a big appetite for Shake Shack (NYSE: SHAK) this week. Shares have rocketed higher by more than 20% since last Friday's market close. While the company reported great earnings this week, that's not the only reason shares are pushing higher.

As of midday Friday, Shake Shack stock was up by about 23% for the week, according to data provided by S&P Global Market Intelligence. That has shares of the fast casual burger chain sitting at a 52-week-high price that it hasn't touched since the summer of 2021.

Shake Shack reported $286 million in fourth-quarter revenue, up 20% year over year and exceeding analysts expectation of $280.2 million. For the full year 2023, the company also grew sales by more than 20% compared to 2022.

Continue reading

Source Fool.com