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Shake Shack (NYSE: SHAK) is an American fast casual restaurant chain based in New York City. It started out as a hot dog cart inside Madison Square Park in 2001, and its popularity steadily grew. In 2004, it moved to a stand within the park, expanding its menu from New York-style hotdogs to one with hamburgers, hotdogs, fries and its namesake milkshakes.
Since its founding, it has been one of the fastest-growing food chains, eventually becoming a public company filing for an initial public offering of stock in late 2014. The offering priced on January 29, 2015; the initial price of its shares was at $21 immediately rising by 123% to $47 on their first day of trading.
Shake Shack Inc. owns and operates more than 249 locations both domestically and internationally, typically located in stand-alone restaurants and shopping malls. Shake Shack also operates in stadiums, including Citi Field in New York City, Citizens Bank Park in Philadelphia, Nationals Park in Washington, D.C., PNC Park in Pittsburgh, Minute Maid Park in Houston, M&T Bank Stadium in Baltimore, and the T-Mobile Arena in Las Vegas. It also operates airport locations in Atlanta, New York, Los Angeles, Dubai, Manila and Singapore. There is also an outlet at the Saratoga Race Course in Saratoga Springs, NY.