Shake Shack stocks may rise up with the introduction of the latest addition in its expanding menu. The highly favored burger chain debuted its first ever fried chicken sandwich available only in its three Brooklyn outlets, and it sure looks enticing.
Time reported that the new offering was an experimental venture by the restaurant to create a variety in its menu. The Shake Shack's stock was down by 43 percent after rising to more than 120 percent on its inital day of trading in January on public markets. Shake Shack also faces competition on a local level, from David Chang, Momofuku founder, who, a short time ago, also opened a fried chicken meal in New York City.
Now, back to the latest feature in the burger chains' menu, the ChickenShack, which one can buy for $6.29, looks ideally like what it should be; the chicken looks crunchy and crispy, and the sandwich is loaded with pickles, lettuce, and liberal dressing of buttermilk herb mayo, Sploid detailed.
In related news, according to Forbes, ifor those who want tp turn their passion for burritos, burgers and chicken wings into cash, they have to go where development is.
Chipotle, a Mexican food chain had its stock soaring 58 percent in the previous years. Chipotle did not only garner millions of consumers but also attracted investors.
Forbes screened U.S. restaurants stocks to look for the one that will follow Chipotle. They used one of the most screened industry metrics, same-store transaction growth.
Out of the 14 chains that they screened, Shake Shack came in second place with 11.7 percent same-store sales growing in the first quarter.
Shake Shack's stock has been going up and down since its IPO last January, despite the store's advertising campaign in its new locations and store promotions. The store's price doubled in the first quarter of trading but then came tumbling down from its soaring values. Closing above 58 percent on Monday per share, the stock plummeted by 10 percent by Tuesday morning.
