Shake Shack Shares Surge In NYSE Debut

(RTTNews) - Shares of burger chain Shake Shack Inc. (SHAK) rose sharply in their trading debut on the New York Stock Exchange on Friday following a successful initial public offering.

Shake Shack priced its IPO of 5 million Class A shares at $21 per share, which was above the previously estimated price range of $17 to $19 per share.

Shake Shack, known for its Shackburgers, flat-top hot dogs and eponymous shakes, has 63 locations of which 27 are outside the United States.

Shake Shack shares are currently trading at $48.15 after trading as high as $52.50 and as low as $45.55 earlier in the session. The shares opened for trading at $47.00.