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Sept. 23, 2020, 12:51 p.m. EDT

Laird Superfood's stock opens more than 50% above IPO price, and keeps rising

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By Tomi Kilgore

Shares of Laird Superfood Inc. /zigman2/quotes/221258890/composite LSF -9.00% enjoyed a super start to their public life, as the Oregon-based plant-based and functional foods company's stock opened 52.5% above its initial public offering price, then kept climbing. The first trade was at $33.55 at 11:52 a.m. Eastern for 145,950 shares. The IPO price late Tuesday at $22 a share, at the top of the expected range. The company sold 2.65 million shares to raise $58.3 million, and the IPO pricing valued that company at $184.3 million. The stock has rallied further since the opening, and was last trading 76% above its IPO price. The company went public at a good time for IPOs, as the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -3.78% has run up 24.0% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.21% has gained 5.3%.

/zigman2/quotes/221258890/composite
US : U.S.: NYSE American
$ 46.00
-4.55 -9.00%
Volume: 202,019
Oct. 30, 2020 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$448.09 million
Rev. per Employee
N/A
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 50.68
-1.99 -3.78%
Volume: 477,985
Oct. 30, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,269.96
-40.15 -1.21%
Volume: 3.01B
Oct. 30, 2020 5:18p
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