External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Equity Bottom-Up

Shake Shack Inc Class A / Equity Bottom-Up

<ul><li>Investment thesis recommends shorting Shake Shack due to declining traffic, comp growth, and new unit productivity</li><li>Stock price has surged despite challenges, trading at over 100x earnings</li><li>Uncertain outlook with activist investor no longer involved and unique smashburger being commoditized, raising doubts about sustainability of growth.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Investment thesis recommends shorting Shake Shack due to declining traffic, comp growth, and new unit productivityStock price has surged despite challenges, trading at over 100x earningsUncertain outlook with activist investor no longer involved and unique smashburger being commoditized, raising doubts about sustainability of growth.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Shake Shack Inc (SHAK) - Friday, Aug 30, 2024

Independent Research, Food Delivery Space, Newmoon Capital

Newmoon Capital

Independent Research, Food Delivery Space

We look for owner-operators in what we believe are either highly defensible assets or soon to be highly defensible assets, trading at a fraction of their future potential.

Private Capital Markets

Judging from the twitter DMs, several of my points from my previous post have gone over the head of some investors, particularly the one around Signature (white label delivery). Deliveroo is at risk of getting disrupted because a large proportion of its orders/sales are from a small selection of chain restaurants — 10 chains represent 35% of ALL UK orders. Some of such chains include Nando’s, Wagamama, and McDonalds. The top 100 chains could easily be more than 50% of the UK business, if not much more. This is the case (if not moreso) for Uber Eats, and less the case for $TKWY.

Judging from the twitter DMs, several of my points from my previous post have gone over the head of some investors, particularly the one around Signature (white label delivery). Deliveroo is at risk of getting disrupted because a large proportion of its orders/sales are from a small selection of chain restaurants — 10 chains represent 35% of ALL UK orders. Some of such chains include Nando’s, Wagamama, and McDonalds. The top 100 chains could easily be more than 50% of the UK business, if not much more. This is the case (if not moreso) for Uber Eats, and less the case for $TKWY.

Deliveroo Part 6 - White Label Killed the Delivery Star

United States

Shake Shack Inc is a modern day "roadside" burger stand known for its all-natural burgers. Shake Shack is part of Danny Meyer's Union Square Hospitality Group (USHG).

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Shake Shack Inc Class A (SHAK US)

Shake Shack Inc (SHAK) - Friday, Aug 30, 2024

nvestment thesis recommends shorting Shake Shack due to declining traffic, comp growth, and new unit productivity. Stock price has surged despite...

Value Investors Club (VIC)

Deliveroo Part 6 - White Label Killed the Delivery Star

Deliveroo is at risk of getting disrupted because a large proportion of its orders/sales are from a small selection of chain restaurants — 10...

Newmoon Capital

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