With a large short ratio of 42.9%, there are three main reasons why Shake Shack (SHAK) bears may want to reconsider their positions, according to TheStreet’s Brian Sozzi. Shares of Shake Shack jumped after the company reported better-than-expected first-quarter results on Wednesday. The quarter included same-store sales that rose 11.7% from 3.9% a year ago and topped competitors like Chipotle (CMG). Shake Shack is seeing higher sales despite raising prices last September and in January. It’s also profiting from innovation and new, limited-time menu items. Plus, the brand is gaining ground across the country and overseas — despite concerns about its appeal to consumers outside of New York.
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