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…
Source link
