Shake Shack is overvalued and the level of skepticism about its shares on Wall Street is rising, said TheStreet’s Jim Cramer. Shake Shack reported earnings on Wednesday afternoon that left investors unsated despite an earnings beat. The burger-flipper said its same-restaurant growth declined from a year ago. However, the company’s second-quarter earnings were $3.3 million, or 14 cents a share, beating analyst estimates of 13 cents. And net sales of $66.5 million, a rise of 37.2% from a year ago, also beat expectations of $63.2 million. Shake Shack said it plans to open 18 new U.S. restaurants in 2017, above the 16 initially forecast.
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