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Top Restaurateur: Shake Shack hype will push stock higher

Chef Tim Love bought shares of Shake Shack Friday morning shortly after the IPO at around $46, but he doesn't plan on holding them for long.

Shake Shack shares rocketed as much as 130 percent in its debut on Friday, but Love, restaurateur and investor, views it as a short-term trade. Love looks to be a seller in a week, or so.

"Next week it's going to hit $55, $56. I'll probably get out then," he said.

"I feel like the hype of the stock is really going to push it pretty hard," Love said on CNBC's "Fast Money Halftime Report."

Love, co-star of CNBC's "Restaurant Startup", is cautious on Shake Shack saying the burger empire has a cult-like following.

"People want a part of Shake Shack because they are tired of waiting in a two hour line in Madison Square Park," he added.

People need to start looking at the company on a financial level rather than at their great burgers and shakes, Love said.

He offered Shake Shack and other casual, fast-food companies some advice on entering the IPO market: "Take it slow. The key to success is sticking to your roots."

Catch an all-new episode of "Restaurant Startup" Tuesday at 10p ET/PT!


Shake Shack founder Danny Meyer is photographed during his company's IPO on the floor of the New York Stock Exchange January 30, 2015.
Brendan McDermid | Reuters
Shake Shack founder Danny Meyer is photographed during his company's IPO on the floor of the New York Stock Exchange January 30, 2015.