Jersey Mike's Stock Opens Below IPO Price: What's Happening?
Jersey Mike's Subs began trading Friday on the NYSE after pricing its IPO at $23 per share, valuing the chain at $1 billion.
Jersey Mike's just started selling shares on the stock market at $23 each, but the opening price was lower. When a new company's stock opens below its starting price, it can mean people are unsure about it right now—but this happens often and doesn't tell us much yet.
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