Shake Shack Climbs Off Worst Levels But Remains Firmly Negative

(RTTNews) - After falling sharply early in the session, shares of Shake Shack Inc. (SHAK) have climbed off their worst levels of the day but remain significantly lower in afternoon trading on Friday. Shake Shack is currently down by 13.2 percent after hitting a six-month intraday low.

The early sell-off by Shake Shack came after the restaurant chain reported third quarter earnings and revenues that exceeded analyst estimates but an unexpected decrease in same-store sales.

Shake Shack also forecast full-year revenues between $450 million to $452 million, below analyst estimates for $453.4 million.