Shake Shack Stock Is Soaring Today While the S&P 500 Drops. Here's Why.
Shake Shack(SHAK) The Motley Fool·2024-08-02 00:28
Profits are jumping. But can the business keep it going?The S&P 500 was dropping on Thursday morning but shareholders of restaurant chain Shake Shack (SHAK 14.38%) might not have noticed. The company reported financial results for the second quarter of 2024 this morning before the stock market opened. And as of 11:30 a.m. ET, Shake Shack stock was up nearly 18%.Growth and profits for the burger chainIn Q2, Shake Shack opened 12 new restaurants that are owned by the company and 11 licensed locations. Between ...