Habit Hits Post-IPO Low, Shake Shack Ends Roundtrip

Wall Street has lost its appetite for new burger chains, as Habit Restaurants (HABT) plunged Wednesday to a post-IPO low and Shake Shack (SHAK) completed a roundtrip, erasing all of its gains from an initial IPO base. Habit, which operates 110 restaurants in four states, began trading on Nov. 20 after pricing its initial public offering at 18 per share. It shot up 146% in three weeks to a 44.20 high on Dec. 12 before consolidating. Habit fell 7.9%

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