Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

Sweetgreen shares surge 76% in salad chain’s stock market debut

by
November 18, 2021
in Latest News
0
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Shares of salad chain Sweetgreen closed up 76% Thursday afternoon, surging in the company’s public market debut.

The stock opened at $52 a share, giving the company a market value of more than $5.5 billion. The company priced its initial public offering at $28 a share Wednesday evening, above its marketed range of $23 to $25 per share. Sweetgreen sold 13 million shares, raising $364 million for the company.

RELATED POSTS

SpaceX president defends Elon Musk over sex misconduct claims: ‘I believe the allegations to be false’

Snap tanks more than 25% after CEO says company will miss sales, earnings estimates and slow hiring

The stock is trading on the New York Stock Exchange under the symbol “SG.”

Founded in 2006, Sweetgreen has found a loyal customer base with its menu of customizable salads and warm bowls that appeal to consumers looking for healthy, convenient options. The chain has also leaned into technology, pushing its customers to order their salads online to cut down on lines inside restaurants. More than two-thirds of its revenue comes from digital sales.

“We like to say we want to build the McDonald’s of our generation,” said co-founder and CEO Jonathan Neman on CNBC’s “Squawk Box.”

In the fiscal year ended Dec. 27, Sweetgreen reported a net loss of $141.2 million on revenue of $220.6 million, according to its prospectus. The chain’s same-store sales shrank 26% during that time after climbing 15% in the prior fiscal year.

This year, the chain has rebounded from pandemic lows. Same-store sales have risen 21%, as of Sept. 26. Its losses narrowed to $86.9 million from a loss of $100.2 million in the year-ago period.

In August, Sweetgreen acquired Spyce, a Boston restaurant company that made a name for itself with robotic restaurant tech.

Sweetgreen operates 140 restaurants across 13 states and Washington, with plans to double its restaurant footprint within the next five years.

Other restaurant chains have made their public market debuts this year, with mixed results. First Watch Restaurant Group‘s stock has fallen 9% since its October IPO, while shares of coffee chain Dutch Bros have climbed 55% since its own offering.

This is breaking news. Please check back for updates.

ShareTweetPin

Related Posts

SpaceX president defends Elon Musk over sex misconduct claims: ‘I believe the allegations to be false’

by
May 23, 2022
0

SpaceX CEO Elon Musk participates in a postlaunch news conference inside the Press Site auditorium at NASA's Kennedy Space Center...

Snap tanks more than 25% after CEO says company will miss sales, earnings estimates and slow hiring

by
May 23, 2022
0

In this screengrab, CEO of Snap Inc. Evan Spiegel takes the stage at the virtual Snap Partner Summit 2021 on...

S&P 500 rises more than 1%, Dow adds 600 points as stocks try to recover from sharp sell-off

by
May 23, 2022
0

Stocks bounced on Monday as investors snapped up beaten-down stocks like banks after eight straight losing weeks for the Dow...

Bank balances surged during Covid even as pandemic-era stimulus ended, BofA CEO says

by
May 23, 2022
0

Bank of America's account holders saw strong growth in their balances during Covid and have yet to spend down their...

CDC officials sound alarm for gay and bisexual men as monkeypox spreads in community

by
May 23, 2022
0

A section of skin tissue, harvested from a lesion on the skin of a monkey, that had been infected with...

Next Post

Biden says the U.S. is considering a diplomatic boycott of the Beijing Olympics

LA Area Port Traffic: Solid Imports, Weak Exports in October

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com