Shake Shack’s second day as a public company was less fun than its first.
On Monday, Shake Shack shares fell about 4%, bringing the stock’s fall from its post-IPO high to more than 11% as the stock closed at 44.02 per share.
On Friday, Shake Shack shares more than doubled, closing at around $US46 per share after the company’s initial public offering priced at $US21 per share.
Shake Shack employees are still winners, however, as the company said managers and hourly employees were able to buy stock at the company’s $US21 IPO price. Those folks are still up more than 100%.
Here’s the Shake Shack stock chart.
And the chart of Shake Shack’s sales growth, which, admittedly, is probably more important.