Already time to short The Shack?
January 30, 2015 at 16:58 PM EST
Shake Shack began trading this morning, priced at $21 a share, opening at $47 and at its peak traded up more than 150%. Shake Shack cleared $82 million in sales from 40 stores and translated that into $6 million in profit or about $150 k of profit per store in 2013. At the current valuation investors are paying about $25 million per store, or a 0.6% ROI.