Shake Shack's Stock Drops In Active Trade Ahead Of Earnings Report

Shake Shack Inc.'s stock slumped 3.1% in afternoon trade Monday, ahead of the burger chain's fiscal second-quarter results after the close. Volume was 1.1 million shares, nearly double the full-day average, according to FactSet. Leading up to the results, the stock had soared 47% since it closed at 3 1/2-month low of $48.73 on July 15, through Friday. Perhaps the reason investors are expressing some anxiety ahead of Shake Shack's quarterly, which will be the third since the company went public on Jan. 30, is the stock's reaction after fiscal first-quarter results were reported after the May 13 close. The stock initial surged as much as 14% in intraday trade on May 14, as the company beat earnings, total sales and same-store sales expectations, but the stock pulled a sudden and sharp intraday U-turn to close down 4.2% that day. Shake Shack is expected to report earnings per share of 3 cents and sales of $42.8 million.