Why Shake Shack Stock Is Closing In on an All-Time High Today

Shares of restaurant chain Shake Shack (NYSE: SHAK) were rising on Wednesday after it reported its financial results for the third quarter of 2024. Investors celebrated after digesting the numbers: As of noon ET, Shake Shack stock was up almost 14%, within 1% of the all-time high that it reached back in early 2021.In Q3, Shake Shack's revenue was up nearly 15% year over year to $317 million. Opening 17 new locations during the quarter helped boost the top line. But revenue was further boosted by same-store-sales growth of over 4% -- the ninth straight quarter same-store sales have gone up.Shake Shack has been making progress on profitability in recent quarters, particularly with its restaurant-level operating margin. In Q3, the company's restaurant-level operating margin of 21% exceeded management's guidance, which was an encouraging sign.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool