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.
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…