Shake Shack Stock Is Soaring Today While the S&P 500 Drops. Here's Why.

The S&P 500 was dropping on Thursday morning but shareholders of restaurant chain Shake Shack (NYSE: SHAK) might not have noticed. The company reported financial results for the second quarter of 2024 this morning before the stock market opened. And as of 11:30 a.m. ET, Shake Shack stock was up nearly 18%.In Q2, Shake Shack opened 12 new restaurants that are owned by the company and 11 licensed locations. Between these new locations and same-store-sales growth of 4%, the company's Q2 revenue was up 16% year over year to $316 million. That was higher than management's guidance and higher than expectations from analysts.Shake Shack's profit metrics are also improving lately. In Q2, the company had operating income of nearly $11 million, which was a big jump from operating income of less than $5 million in the same quarter of last year.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool