Shake Shack Inc. (SHAK) shares plunged 30.24 percent to $67.33, down $29.19 on Thursday, after the company reported a first-quarter loss despite higher revenue.
The stock is currently trading at $67.33, compared to a previous close of $96.52 on the New York Stock Exchange. It opened at $70.80 and traded between $67.31 and $71.50 during the session, with volume reaching 4.84 million shares.
The company reported a net loss of $0.3 million, or $0.01 per share, compared with net income of $4.2 million, or $0.11 per share, last year. Revenue increased to $366.7 million from $320.9 million, but higher operating, labor, and administrative expenses weighed on profitability.
The stock has traded between $67.31 and $144.65 over the past 52 weeks.
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