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Shake Shack is tumbling

Akin OyedeleMay 26, 2015, 19:51 IST

Shake Shack shares are tumbling.

In early trading on Tuesday, the stock dropped by more than 6% to as low as $86.23 per share.

The fast casual food chain had six straight days of gains until Friday, the longest such streak since its January 30 IPO. The stock is up 89% since the IPO.

The stock gained momentum after its first quarter earnings results which crushed expectations, and which Stifel analysts called "a historically impressive 'beat and raise.'"

Here's a chart showing the slide on Tuesday:

Google Finance

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