Breaking Finance News

Sprouts Farmers Market up 110 Percent on First Day of Trading (SFM)

On its first day of trading, Sprouts Farmers Market (NASDAQ: SFM) jumped 110 percent. The high end grocery store is similar to Whole Foods  (NASDAQ: WFM) in that it sells higher end, healthy, organic foods to health conscious shoppers.

As we reported earlier, the IPO priced well above its range at $18. When it opened around noon on Thursday, it initially popped but retreated to the 36 range. As of 2:30 p.m. EDT, the stock is nearing the highs of the day.

[stock-tools exchange="NASDAQ" symbol="SFM" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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