Wingstop (Nasdaq: WING) became the latest restaurant company to go public on Friday and posted impressive returns during its first day of trading.
Priced at $19 per share, the Dallas company closed at $30.54, reflecting a 60.74 percent increase. That was high enough to rank it 17th out of the top 24 restaurant chains to go public since 2000.
Restaurant stocks have seen mixed results over the past 10 years. Companies like Chipotle (NYSE: CMG) have seen amazing returns, while others, like Potbelly (Nasdaq: PBPB) and Noodles & Company (Nasdaq: NDLS), started strong but have seen prices drop sharply. Some, like Houston’s Ignite Restaurant Group (Nasdaq: IRG), have tumbled far below their initial public offering price.Read the Full Article