Sweetgreen

Financing

Sweetgreen's valuation has taken a huge hit

The Bottom Line: The salad chain’s stock price has fallen 40% since its peak amid market volatility and questions about its market cap.

Financing

Sweetgreen’s valuation is already higher than Wendy’s and Papa John’s

The Bottom Line: IPO investors have made newly public chains more valuable than other concepts with much longer track records.

The Bottom Line: The salad chain’s market debut was one of the year’s best in the industry. But skepticism about its long-term prospects remains.

The fast-casual salad chain, which has yet to turn a profit, saw its stock close at more than 76% above its starting price.

The 140-unit salad chain priced its shares at $28 —$3 above its previously stated range—as it begins trading on the New York Stock Exchange Thursday.

The fast-casual salad chain revealed the terms of its initial public offering Tuesday, saying it intends to sell its shares for between $23 and $25 apiece.

The fast casual, which submitted its go-public plans this week, said it is having trouble getting workers to submit proof of vaccination, which could lead to layoffs, staffing shortages and potential restaurant closures.

The fast-casual chain, which filed to go public this week, is focused on boosting digital orders and adding tech enhancements to its restaurants.

The fast-casual salad chain wants to revolutionize the fast-food business and make it healthy. Its margins could cause investors to think twice, says RB’s The Bottom Line.

The 140-unit fast-casual salad chain, which has been hard hit by the pandemic, becomes the fifth restaurant brand to go public this year.

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