Shake Shack (SHAK) Stock Closed Up as it Applies for 'Chicken Shack'

NEW YORK (TheStreet) -- Shares of Shake Shack (SHAK) closed Wednesday's regular trading session up 8.37% to $83.85 on heavy volume as the burger joint explores chicken sandwiches.

According to a recent trademark filing by its subsidiary SSE IP, Shake Shack applied for "chicken shack," CNBC reports.

Shake Shack has yet to announce any new items or initiatives.

"Shake Shack was born from a fine dining company, and we constantly test new menu items in our test kitchen," the company said in the statement.

According to research firm NPD Group, chicken meals rose 3% to $5.4 billion for the year ending in March at fast-food restaurants, CNBC added.

That figure was higher compared to the 1% increase in burger servings, which resulted in $7.9 billion for the year, CNBC noted.

Shake Shack shares are down 0.54% to $82.40 in after-hours trading Wednesday.

About 1.67 million shares have changed hands as of 4:42 p.m. ET today, compared to its average volume of about 938,832 shares a day.

New York City-based Shake Shack is a roadside burger stand serving an American menu of burgers, hot dogs, crinkle-cut fries, shakes, frozen custard, beer and wine.

The company operates about 63 casual dining restaurants around the world.

SHAK Chart SHAK data by YCharts

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