Why Shake Shack Stock Tumbled Today
Shares of Shake Shack (NYSE: SHAK) were getting tossed away today after the fast-casual burger chain posted underwhelming results in its third-quarter report. Comparable sales missed expectations, and guidance for the fourth quarter was disappointing. The market also seemed skeptical of a plan to temporarily close down restaurants next year for renovations and upgrades.
The stock was down 19.4% as of 1 p.m. EST.
Image source: Shake Shack.
Source Fool.com