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Stock impact report

Many Public Companies That Got PPP Loans Had Lots In The Bank [Forbes]

Shake Shack, Inc. Class A (SHAK) 
Last shake shack, inc. class a earnings: 2/24 04:05 pm Check Earnings Report
Company Research Source: Forbes
A pedestrian wearing a protective mask walks past a Ruth's Chris restaurant in Washington, D.C.,... [+]U.S., on Monday, April 20, 2020. than a dozen publicly traded companies with revenue of more than $100 million, including Ruth's Chris steak houses, received loans through a massive relief program aimed at small businesses. Photographer: Andrew Harrer/Bloomberg© 2020 Bloomberg Finance LPThere have been plenty of public exclamations of "Oops!" Such companies as Ruth's Chris Steak House and Shake Shack sheepishly turned around and returned money they had borrowed from the Paycheck Protection Program, or PPP. That’s the part of the CARES Act coronavirus relief bill that was supposed to help small businesses keep employees on payroll. Help that was only supposed to go to businesses with fewer than 500 employees because they have relatively few financial resources.On the cliff’s edge of business under lock down, these businesses are far more likely to go whistling down to a Looney Tunes Show less Read more
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