- Shake Shack files an updated S1 allowing pre-IPO shareholders to dump up to 26.1 million shares.
- Even at the recent lows, the stock remains incredibly expensive.
- Shake Shack faces too much selling pressure to recommend anybody it under this scenario of likely relentless insider sells.
Prior to the open on Thursday, Shake Shack (NYSE:SHAK) filed a S1 allowing pre-IPO insiders to dump up to 26.1 million shares. The filing allows insiders to sell the shares from time to time at what amounts to over $1.2 billion at current stock prices of $47.
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