Shake Shack is ripping higher.
In early trade on Wednesday, shares of the burger chain were up more than 6.5%, bringing the stock’s gains since reporting earnings after the close last Wednesday to nearly 20%.
One analyst called this report “historically impressive ‘beat and raise’” quarter.
After the company’s initial public offering priced at $US21 in January, the stock has more than tripled and was trading at around $US76 on Tuesday.
The only news surrounding the company is that Wednesday marks the re-opening of its flagship Madison Square Park location in New York City.
And the re-opening of this location seems like a blowout.
The company announced it will have special burgers for the event, as well as hand-crafted scale models of the restaurant, and a special edition beer on sale.
As for what this re-opening could mean for the company, analysts at William Blair said the re-opening could weigh on Shake Shack’s same-store sales performance in upcoming quarters.
In related Shack news, CNBC’s Jim Cramer called the company a “Tesla for burgers” on his Mad Money program on Monday night.
Here’s the chart of Shake Shack’s early spike on Wednesday.
And the stock chart since its debut in January.