Shake Shack makes a great burger and is a "snazzy" place to hang out, but that doesn't make it a great investment, strategist Keith Fitz-Gerald said Wednesday.
"This thing has been priced in the nosebleed section for a long time now," Fitz-Gerald said in an interview with CNBC's "Closing Bell."
With a price-earnings multiple of more than 1,000, "you're going to have to wait 1,000 years to get any money back that you invest in the company at the current rate of earnings. It's a premium to the industry that is not warranted," he added.
When Shake Shack debuted in January, it soared more than 130 percent after pricing at $21 a share. On Wednesday, the burger joint closed down 14 percent at $73.69.