Use access key #2 to skip to page content.

LibertarianTree (< 20)

No Lucky Charms earned yet.

Mid-Day Update: First Solar, Shake Shack, YUM! Brands

Recs

0

May 26, 2015 – Comments (0) | RELATED TICKERS: SHAK , FSLR , YUM

Shake Shack (NYSE: SHAK) is down about 10 percent right now on a decent amount of volume.

Of course, the stock was also sitting above $90 this morning, which is absurd.

I actually recommended this stock shortly after it went public. I think it's a great company, and at the time was a great investment opportunity. But as you know, we dumped the slick burger chain last week after the stock broke above $75. Although the company has a great future ahead of it, the stock flew too high, too fast. At least for my risk-averse taste.

Since selling the stock, it climbed another 28% - giving me a little pain in my belly, as that's a lot of cash we left on the table. But the truth is, the stock was just getting too top-heavy, and I didn't want us to lose the gains we already locked in. Better to be safe instead of sorry.

In any event, the stock is selling off a bit today. Some of this may have to do with the broader market, though, so it's hard to determine right now whether or not SHAK is at the start of a correction. We'll find out shortly.

In the meantime, I have ...

KEEP READING 

0 Comments – Post Your Own

Featured Broker Partners