Shake Shack, the fast-food chain that rose from a single hot dog stand in a New York City park to a Gotham icon, is going public.

But will Wall Street investors gobble up the stock?

The company, which was founded by restaurateur Danny Meyer in 2001, is hoping to raise up to $100 million in an initial public offering. That could value the company as much as $1 billion. Shake Shack plans to list on the New York Stock Exchange under the ticker symbol, SHAK.

This year, Shake Shack’s sales soared 41% through September 24th, although profit decreased as the company focused on adding new restaurants. It now has 63 locations around the world.

Get the Latest Market Data and News with the Yahoo Finance App

Yahoo Columnist Rick Newman says the company is trying to take advantage of its roots.

“Clearly they’re going to carry that New York vibe to other parts of the country,” he says. “Coastal places are hot so that part of the business makes sense.”

But Yahoo Finance Senior Columnist Michael Santoli wonders if being ubiquitous takes some of the edge off of having that New York vibe.

“The people I see lining up at Shake Shack in New York are not from New York” Santoli points out. “So does it maintain some kind of status as an ‘in place’ if you can get it back home? That’s always the question when you have a regional chain that tries to go national.”

Newman also sees the potential danger of turning a unique experience into an everyday one.

The people lining up at Shake Shack used to be New Yorkers,” he notes. “It sort of ran its course and New Yorkers said I’ve had that, it’s not worth standing in line for anymore. So can they keep the buzz as they spread out?”

Newman adds Shake Shack is trying to make its mark in a pretty crowded field.

“I think there’s a real question of are we reaching a saturation point of burger joints,” he says. “No one is going to confuse Shake Shack with McDonald’s (MCD) or Burger King, but we’ve got so many of these kinds of burger joints spreading around the country. So how many can we sustain? I think we might find out as this company tries to expand.”

And Santoli suggests Shake Shack may face another problem in growing its business-- the move by Americans towards more healthy eating options.

“A meal of a burger, fries and a shake is about 1800 calories,” he points out. “How many times a week are you going to do that?”