Dutch Bros cheered in public debut, as stock opens 41% above IPO price

Dutch Bros Inc. BROS, +59.78% was cheered successful its nationalist debut, arsenic the drive-through java coffee chain's banal opened 41.3% supra the archetypal nationalist offering price. The institution had said overnight that it raised $484.2 cardinal arsenic its 21.05 million-share IPO priced astatine $23 a share, good supra the expected scope of betwixt $18 and $20 a share. The stock's archetypal commercialized connected the NYSE was astatine $32.50 astatine 12:20 p.m. Eastern for 2.6 cardinal shares. The banal has since added to gains, to commercialized up 46.1% astatine $33.60. The institution went nationalist connected a time that the Renaissance IPO ETF IPO, +0.28% slipped 0.1% successful midday trading portion the S&P 500 SPX, +0.65% gained 0.4%.