Lettuce has never been this exciting. Sweetgreen shares opened 86% Sweetgreen’s salads may be healthy, but this first-day blowout almost certainly isn’t.
As for Sweetgreen itself, it emerges with around $360 million in new money to invest in its growth plans, which include doubling the number of stores.
But if the company had sold shares for just $40 a share – halfway between the IPO price and the opening price – it would have made about $160 million more, enough to cover an extra year of its current losses. It may regret leaving money in the salad bowl.
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