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Shake Shack plans to open up to 75 more restaurants globally in 2022, which includes adding 10 locations to its fledgling drive-thru footprint, driven by a recovery in sales and revenue in the fourth quarter ended Dec. 29.
The New York restaurant chain's CEO Randy Garutti told CNBC Tuesday that Shake Shack plans to open 45-50 restaurants in the U.S. and 20-25 units outside the country in 2022 after opening 36 new U.S. units and 26 outside the country last year. The chain will also add 10 new drive-thru restaurants this year after opening its first two drive-thru units last year in Maple Grove, Minn., and Lee's Summit, Mo.
Shake Shack has over 240 locations in 32 states and in Washington, as well as another 125 international locations.
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Since 11.01.2022 the stock is consolidating within an area ranging from $79.62 - $73.01.
WHAT DO I EXPECT NEXT?
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I can imagine that the Shake Shack stock will continue to consolidate within the range and might break out of its consolidation channel as soon as the entire market has strength. If the stock moves above $79.62 with higher than average volume, it might be beneficial to buy the stock. When the stock price closes below its temporary low at $73.01 the trading scenario is invalid.
What are your thoughts? Leave a comment down below 👇
🚫 No investment advice, I am just displaying my personal opinion which might be wrong!
