Sweetgreen’s shares rose as high as 91% on Thursday, when it launched its public markets.

Stock opened at $52 per share. This gave the stock a market capitalization of over $5.5 billion. Its initial public offering was priced at $28 per share, which is above the $23-25 share price. Sweetgreen has sold 13,000,000 shares and raised $364million for the company.

Stock trades under symbol “SG.”

Sweetgreen was founded in 2006. It has a strong customer base thanks to its wide selection of salads and warm bowls. This appeals to those who are looking for convenient, healthy options. It has been pushing customers to order online their salads to save time and cut down on wait times in restaurants. Its digital sales make up more than two thirds of its revenues.

“We love to claim that we wish to build the McDonald’s“The generation of our generation,” stated Jonathan Neman, co-founder and CEO on CNBC. “Squawk Box.”

Sweetgreen posted a net loss in fiscal 2012, at $141.2 million for revenue of $220.6 millions. According to the prospectus. Following an increase of 15% in previous fiscal years, the chain’s same-store revenues fell 26%.

Since the pandemic, the chain’s sales have rebounded this year. Similar-store sales rose 21% as of Sept. 26. From a loss last year of $100.2million, its losses decreased to $86.9m.

The August issue of Sweetgreen acquired Spyce, Boston’s first robotic restaurant tech company. 

Sweetgreen currently operates 140 restaurants in 13 states and Washington. The company plans to expand its presence within five years. 

With mixed results, a number of other restaurants chains made public markets debuts in this year. First Watch Restaurant GroupDespite a 9% drop in stock value since October’s IPO, shares in the coffee chain have risen 9%. Dutch Bros haveSince its original offering, it has risen 55%

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