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June 26, 2020, 11:53 a.m. EDT

Albertsons stock falls 3% then rises as trading begins

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By Tonya Garcia

Shares of Albertsons Cos. Inc. /zigman2/quotes/209620932/composite ACI +1.27% began trading on Friday and immediately sank 3% before rising 0.6%. The first trade was at 11:33 a.m. ET for $15.50. The grocer priced last night at $16, below the sought-after $18-20 range. The decades-old company went public at a time when grocery demand is high due to the coronavirus pandemic, and after first filing then pulling a previous IPO. The Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +4.09% has gained 29.2% for the year to date while the S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.60% is down 6.1% for the period.

/zigman2/quotes/209620932/composite
US : U.S.: NYSE
$ 13.55
+0.17 +1.27%
Volume: 1.74M
Sept. 25, 2020 4:00p
P/E Ratio
7.22
Dividend Yield
N/A
Market Cap
$6.49 billion
Rev. per Employee
$220,188
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 51.38
+2.02 +4.09%
Volume: 194,420
Sept. 25, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,298.46
+51.87 +1.60%
Volume: 2.18B
Sept. 25, 2020 5:06p
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