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Last week: Krispy Kreme roars in 2nd IPO, adds 23% as CEO sees 'transformed' company
Hat tip, The Wall Street Journal.
My advice: if you own shares of Apple and shares of Krispy Kreme, you'll have a well-balanced portfolio.
Krispy Kreme roars in 2nd IPO, adds 23% as CEO sees 'transformed' company
Brooke DiPalma · Associate Producer
July 1, 2021 · 3 min read
Krispy Kreme (DNUT) on Thursday began its second incarnation as a public company, and it looks like a lot of Wall Street investors want a bite.
Shares of the doughnut chain priced in at $17 on Wednesday, listing on the Nasdaq under the ticker "DNUT" and slightly below the expected range of $21 to $24. Yet the stock popped by over 23% to end the session at $21 per share, after briefly dipping to $16.30 in its market debut.
Analysts had initially seen Krispy Kreme's valuation topping $3 billion, but the stock listing undermined some of the loftier estimates. Still, CEO Michael Tattersfield appeared to glaze over any doubts about the company's prospects.
"We've been a public company once before and we are now again, we're able to do that," he told Yahoo Finance LIVE in an interview Thursday morning.
In 2016, Krispy Kreme was acquired by the consumer good investment firm JAB Holding Company for $1.35 billion. Now the 84-year-old company is returning to the public market with a valuation of $2.7 billion.
{snip}
Brooke DiPalma · Associate Producer
July 1, 2021 · 3 min read
Krispy Kreme (DNUT) on Thursday began its second incarnation as a public company, and it looks like a lot of Wall Street investors want a bite.
Shares of the doughnut chain priced in at $17 on Wednesday, listing on the Nasdaq under the ticker "DNUT" and slightly below the expected range of $21 to $24. Yet the stock popped by over 23% to end the session at $21 per share, after briefly dipping to $16.30 in its market debut.
Analysts had initially seen Krispy Kreme's valuation topping $3 billion, but the stock listing undermined some of the loftier estimates. Still, CEO Michael Tattersfield appeared to glaze over any doubts about the company's prospects.
"We've been a public company once before and we are now again, we're able to do that," he told Yahoo Finance LIVE in an interview Thursday morning.
In 2016, Krispy Kreme was acquired by the consumer good investment firm JAB Holding Company for $1.35 billion. Now the 84-year-old company is returning to the public market with a valuation of $2.7 billion.
{snip}