Published on 2 May 2024 on Insider Monkey via Yahoo Finance
Here’s Why Shake Shack (SHAK) Rose in Q1
Choice Equities Capital Management, a hedge fund manager, released its first-quarter 2024 investor letter recently. A copy of the same can be downloaded here. In the first quarter, the fund generated gains of +14.2% on a net basis in comparison to the Russell 2000’s quarterly gain of +5.2%. The S&P 500 generated a gain of +10.6% during the same period. Since its inception in 2017, the fund has generated annualized gains of +15.0% versus +7.8% and +14.5% returns for the indexes, respectively. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Choice Equities Capital Management featured stocks like Shake Shack Inc. (NYSE:SHAK) in the first quarter 2024 investor letter. Headquartered in New York, New York, Shake Shack Inc. (NYSE:SHAK) owns, operates and licenses Shake Shack restaurants. On May 1, 2024, Shake Shack Inc. (NYSE:SHAK) stock closed at $103.33 per share. One-month return of Shake Shack Inc. (NYSE:SHAK) was 7.00%, and its shares gained 74.35% of their value over the last 52 weeks. Shake Shack Inc. (NYSE:SHAK) has a market capitalization of $4.588 billion.