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Why Shake Stock Surged 41% Last Month

TheMotleyFool

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Shake Shack (NYSE: SHAK) climbed 41% last month, according to data from S&P Global Market Intelligence as the fast-casual burger chain bounced back from a weak earnings report at the end of July, and gained on an analyst upgrade and bullish sentiment for fast-food stocks.

As you can see from the chart below, the stock climbed steadily through August and then surged at the end of the month on enthusiasm about a new rapid COVID-19 test that could bring back restaurant customers.