Investors join 'guest' queue for a slice of the Shake Shack pie

New York

CUSTOMERS have been known to line up for close to an hour to order a burger and some crinkle-cut fries at Shake Shack. On Friday, investors showed an equal amount of enthusiasm for the company's stock.

Shares in the company more than doubled in their first day of trading, valuing what once was a humble hot dog cart in Manhattan's Madison Square Park at more than US$1.6 billion. By the close of trading, shares of the company closed at US$45.90 after pricing at US$21 the day before.

That public debut - coming off an initial public offering that had already exceeded expectations - revealed a rare level of excitement on Wall Street for the self-described "modern day roadside" burge…