Shake Shack's Stock is Falling Faster Than It Takes to Order
Shake Shack's stock is falling faster than you can devour its burger. The fast-casual food chain went for $60 a share on Wednesday, a $5 drop from Tuesday's closing value. Stock dropped another 14% yesterday, landing at $56 per share. Shake Shack announced Monday that it would sell 4 million shares without receiving profit, instead allowing company insiders to sell, Business Insider reports. Just a few months ago, Shake Shack's stock was soaring, closing at more than $92 per share in May. The 30% decline from then doesn't come as a complete surprise since stocks tend to fall after more are being put into the market. Despite the plunge, the real bread winners of this situation may just be company insiders who scored the burger-seller's IPO at $21. [BI]
