Shake Shack shares are getting destroyed

Shake Shack shares are getting destroyed.

On Thursday, shares of the burger chain were down more than 12%, and sliding into the close, though there appeared to be little news on the company.

Shake Shack shares had been on a tear, rising about 45% in less than a month.

Most recently, the company reported earnings on March 11 that were better than expected, but the stock briefly plunged following these numbers before rebounding.

In the first quarter, the company reported revenue rose 51% to $US34.8 million and reported a net loss of $US0.05 per share, or $US1.43 million.

Following that report, Wall Street analysts more or less maintained their neutral stance on the burger chain.

Here’s the brutal chart from Thursday.

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