Shares of locally based Steak N Shake Co. shed nearly 9 percent of their value this morning, hitting a 52-week low of $14.07.
The drop comes on the heels of a dip in third-quarter profit and lowered guidance revealed Aug. 10.
Shares had traded at $16.89 on Aug. 7, responding to news that an activist shareholder acquired a 9.5-percent stake in the burger chain.
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