Shake Shack Shares Set To Snap Six-session Win Streak

MarketWatch Pulse

Shake Shack Inc. shares sank 6.5% in morning trade Tuesday, as they look set to snap a six-session win streak. The stock had soared 42% during the win streak, which was the longest since the burger chain went public on Jan. 30. Volume in the first 45 minutes of trade was already more than half the full-day average of 1.13 million shares, according to FactSet. The stock's last decline was on March 14, when it fell 4.2% despite the company reporting a surprise first-quarter profit and better-than-expected sales. Even with Tuesday's decline, the stock was trading more than four times the initial public offering price of $21.

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