Opinions
Josh Brown, CEO, Ritholtz Wealth Management
Shake Shack Inc
SHAK-N
BUY
Aug 16, 2024
$107.370
Stock price when the opinion was issued
food services
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BUY
Down today on weak guidance. This was going to be down no matter what, because now no stock is going up despite earnings. If someone is selling a stock because of Omicron, it's stupid. The pandemic won't last forever. The brand value alone is worth half its market cap. Today's drop is not meaningful. He's long. There's a bright future ahead, global, larger with digital/online ordering. Loves the company.
food services
HOLD
Consumer discretionary hasn't held up, because consumer sentiment has fallen, taking SHAK down. But SHAK's fundamentals remain the same. RSI is at 30, so is oversold. That said, it's trendless and this is not a buying opportunity. It could be rangebound for a while. He's long-term and will hold. Traders love it here, though.
food services
Maybe the US consumer is slowing, but remember that they continue to expand across the world take share in those places. They've done everything that a growing company should do, including hiring a CEO (from Papa John's) who can expand and has expanded a company.