El Pollo Loco (LOCO) Briefly Becomes Top IPO for 2014
- Wall Street little changed as investors assess earnings
- Netflix (NFLX) Director Jay Hoag Scoops Up 600,000 Shares
- Mobileye (MBLY) Falls as Tesla (TSLA) Relationship to Come to an End
- Oil falls towards $44, lowest since May, on glut worries
- Pre-Open Stock Movers 07/26: (EXAS) (CRY) (NFLX) Higher; (TKAI) (CRME) (MSTX) (NDLS) (MBLY) Lower (more...)
Last Friday's IPO for El Pollo Loco (NASDAQ: LOCO) continues to surge higher, dumbfounding onlookers. Shares hit an intra-day high of $32.82 moments ago, making it the top performing IPO of 2014 before paring gains, according to IPO Insider.
Pricing at $15, shares were up as much as 117%, outperforming 2014 IPO favorites like Energous Corporation (NASDAQ: WATT) (+116%), Zoe's Kitchen (NASDAQ: ZOES) (+114%) and GoPro, Inc. (NASDAQ: GPRO) (+76%).
Shares of El Pollo Loco have since backed down to $29.74, up 24%. The market cap at this price is about $1 billion.
El Pollo Loco is a differentiated and growing restaurant concept that specializes in fire-grilling citrus-marinated chicken in front of its customers. The company posted revenue of $314.7 million in 2013, while posting a pro-forma profit of $0.22. In the first quarter of 2014 the company posted revenue of $81.4 million and a pro-forma profit of $0.22/share. The company posted adjusted EBTIDA of $55 million in 2013 and $14.9 million in the first quarter of 2014.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Impinj (PI) Continues Post-IPO Ramp
- Facebook (FB) July weekly volatility increases as shares near record high into Q2 and outlook
- United States Oil Fund volatility flat as WTI trends below $43
Create E-mail Alert Related CategoriesHot IPOs, IPOs, Momentum Movers, Trader Talk
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!