Traeger's stock opens 22% above IPO price, to value the grill market at $2.6 billion

Investors cheered Traeger Inc. /zigman2/quotes/228383287/composite COOK -5.64% on its public debut, as the grill maker's stock opened 22% above its initial public offering price. The IPO priced overnight at $18 a share, at the top of the expected range of between $16 and $18 a share. The stock's first trade was at $22.00 at 11:08 a.m. Eastern for 3.15 million shares. At that price the company was valued at $2.59 billion. The stock has edged higher since the open, and was last trading up 23.9% at $22.30. The bullish open for the stock occurred on a day that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -3.85% rose 0.6% in midday trading, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.84% gained 0.6%.

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Traeger Inc.

US : U.S.: NYSE

$ 12.72

-0.76 -5.64%

Volume: 613,024

Dec. 3, 2021 4:03p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$1.50 billion

Rev. per Employee

N/A

/zigman2/quotes/207665280/composite

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Renaissance IPO ETF

US : U.S.: NYSE Arca

$ 57.41

-2.30 -3.85%

Volume: 161,171

Dec. 3, 2021 4:00p

/zigman2/quotes/210599714/realtime

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S&P 500 Index

US : S&P US

4,538.43

-38.67 -0.84%

Volume: 2.71B

Dec. 3, 2021 5:35p