Shake Shack getting more Reasonable
The best IPO of 2015 and stock to own is Shake Shack (SHAK). Now that its stock price is coming down, I'm interested.
From $52 to today's price of $39, SHAK continues to drop. Last time we commented on the Shack it was flying high following its Jan IPO.
Mastery it waiting to own SHAK and was hoping we could do so in the $20 range. Investors have been cashing in on their gains and it appears not many are in for the long haul.
On Jan 31st Shake Shake's market cap was $1.63 billion today it's $1.47 billion. Does that really mean anything? No. Just that the sellers and day traders are not keeping a long position for more than a few days.
The news that SHAK is headed to Japan in 2016 did nothing for the stock. Why should it? We are in the post IPO "what happens now" time frame. Be Patient.
The take away is that Shake Shack has not been trading long enough to find a range. A steady decline for a stock that most investors want to own is scary. This stock is not a falling knife, it's just getting settled. If the stock does get into ther $20 range we will be buying. Until then just enjoy the burgers and wait for a bottom to appear. It could take another month or so.
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