ITMS
6年前
Shake Shack $SHAK Looks Yummy At This Trade Level
Leading restaurant stock, Shake Shake Inc (NYSE:SHAK), has been falling with the major stock market indexes lately. This is a stock that I have been looking to own at the right price or chart pattern, but it never seems to give me the setup that I have been looking for. At this time, I will be eying the $46.00 area. Currently, SHAK stock is trading around the $53.00 level, so it must still drop a bit more before reaching my level. The company is scheduled to report earning on November 1st, 2018. Should the stock decline down to the $46.00 level I would most likely to be a buyer around that area.
Nicholas Santiago
InTheMoneyStocks
conix
7年前
Shake Shack (SHAK) Shorts Pile On Following Results, Weak Outlook - S3
August 11, 2017 11:01 AM EDT
S3 Partners Director Matthew Unterman notes increasing short-interest positioning in Shake Shack (NYSE: SHAK), following the company's second quarter earnings report, as management delivered solid EPS and revenue results, overshadowed by disappointing same-store sales and reduction in full-year guidance.
The guidance cut has helped push bearish positioning in SHAK to the highest levels since 2015, with $353.7 notional at risk on 11.1 million shares short. The trade has been a profitable one for bearish speculators, returning $30.4 million in mark-to-market profits or 10.1% return on an average short position of $303.2 million, according to S3 Partners. Furthermore, SHAK bears continue to benefit from relatively inexpensive financing rates for their downside bets, with new shares on loan costing speculators a fee of over 2%. Despite a 89.5% increase since January on shares shorting Shake Shack, short-interest position could continue to increase, if SHAK management can't reverse deteriorating same-store sales trends.