MarketWatch

Shake Shack Inc. stands to gain most from Gov. Andrew Cuomo's announcement that indoor dining at 25% capacity will resume in New York City, according to a Truist Securities analysis of its restaurant coverage. Indoor dining will begin in the city on September 30. Truist says about 15% of Shake Shack's company-owned restaurants are in New York City, and those restaurants accounted for 20% to 25% of sales pre-COVID-19. Shake Shack had been under pressure previously due to its transition to a single delivery partner, Grubhub Inc. . Other restaurant chains that stand to gain are Popeyes, which is part of the Restaurant Brands International Inc. portfolio and has about 4% of stores in the city, and Chipotle Mexican Grill Inc. , which has about 3% of its restaurants in the five boroughs. Shake Shack stock is up 20% for the year to date while the S&P 500 index is up almost 6% for the period.