Shake Shack's Plan to Open in Philippines Sends This Stock Soaring

Prada, Gucci retailer SSI to open Shake Shack store in 2019
SSI’s shares rise 18% for biggest gain since January 2016

A burger, fries, and beverage at a Shake Shack restaurant in New York.Photographer: Michael Nagle/Bloomberg

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By Cecilia Yap

July 18, 2018 at 2:59 AM UTC

Updated on

July 18, 2018 at 5:47 AM UTC

This article is for subscribers only.

Shake Shack Inc. is stirring up shares of SSI Group Inc. after the burger chain founded in New York selected the upscale Philippine retailer as its local partner.

News that the world famous ShackBurger will be served in Manila beginning in the spring of 2019 sent shares of licensee SSI rising as much as 18 percent, the most in more than two years. Volume surged more than 3,500 percent above the stock’s three-month daily average.