Shake Shack is having a huge week
There have been no major headlines or press statements from Shake Shack Inc (SHAK) yet its shares are up 20% this week. The stock is on a major tear and it can only be a short squeeze fueling the run.
Shake Shack shares closed up 11% today and hit an all-time high of $60. After-hours they added another 25 cents.
It is unbelievable. The Shack does not have options. Volume on SHAK was double the normal at around 1.4 million shares trading hands. The company doesn't report Q1 earnings until May 4th. I expect it to continue to trade batshit crazy until that time.
According to Google Finance the Price-to-earnings ratio on Shake Shack is at 1,004. It's insane.
ShortSqueeze.com has SHAK's short interest at 34%. With zero options to trade the only explanation is that the short sellers are bulking up and going long.
On May 4th we recommending going long on SHAK in Sell in May and Go Away using these Stocks. SHAK is up 25% since then.
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