Sweetgreen shares close 77% higher on IPO day

Sweetgreen shares close 77% higher on IPO day

Sweetgreen (SG) shares closed 76% higher — at $49.50 each — on their first day of trading on the New York Stock Exchange. The salad restaurant chain almost doubled its valuation during its public debut. Shares opened at $52 each after the IPO was priced at $28. 

Sweetgreen sold 13 million shares, raising $364 million in the initial public offering. 

The company has been expanding beyond urban areas into suburban communities. It also has a growing online order presence. 

“We built out a…


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