Shake Shack Shares Gain After Sales Beat Analysts’ Estimates

Shake Shack Inc. shares rose the most since its first day of trading after first-quarter sales beat analysts’ estimates, helped by new locations.

The stock, which more than doubled the day it debuted in January, climbed as much as 14 percent to $77.73 in New York on Thursday. First-quarter revenue surged 56 percent to $37.8 million, the New York-based company said in a statement Wednesday. Analysts estimated $34 million.