Sweetgreen leaves money in the salad bowl [Reuters]
Shake Shack, Inc. Class A (SHAK)
Last shake shack, inc. class a earnings: 2/24 04:05 pm
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Source: Reuters
public offering price of $28 per share in their debut on Thursday, valuing the U.S.-based takeout salad chain at about $5.5 billion. That's roughly twice the $2.7 billion it had originally expected. Sweetgreen's salads may be healthy, but this first-day blowout almost certainly isn't. Based on its $52 opening price, Sweetgreen is worth 25 times last year's sales. As a comparison, Chipotle (CMG.N) , which sells Mexican fast food, trades at 7 times, and Shake Shack (SHAK.N) at 5 times. That's a high price for a company whose competitors include everything from McDonald's (MCD.N) and Whole Foods to a homemade ham sandwich. As for Sweetgreen itself, it emerges with around $360 million in new money to invest in its growth plans, which include doubling the number of stores. But if the company had sold shares for just $40 a share – halfway between the IPO price and the opening price – it would have made about $160 million more, enough to cover an extra year of its current losses. It may
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SHAK
Earnings
- 2/15/24 - Beat
SHAK
Sec Filings
- 4/17/24 - Form 8-K
- 4/8/24 - Form 4
- 4/4/24 - Form 144
- SHAK's page on the SEC website