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Started from a hot dog cart, now it's a billion-dollar company.
Shake Shack, the high-end fast food burger chain that serial restaurateur Danny Meyer launched from a cart more than a decade ago, climbed above $50 a share in early trading in its market debut Friday, more than doubling its IPO price and putting the company's market cap north of $1.5 billion.
The company priced its IPO at $21 a share Thursday night, well above expectations, raising $105 million and giving Shake Shack a valuation of $745.5 million at the time. The stock opened at $47 a share and quickly shot up above the $50 mark Read more...
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