Kura Sushi USA Inc.'s stock got off to a decent start, as the first trade in the revolving sushi service restaurant chain's shares was 6.4% above the...
Kura Sushi USA Inc.'s stock KRUS, +24.21% got off to a decent start, as the first trade in the revolving sushi service restaurant chain's shares was 6.4% above the somewhat disappointing pricing of its initial public offering. The first trade was at $11.89 at 10:48 a.m.
Eastern for 184,450 shares, while the IPO priced late Wednesday at $14, or the low end of the expected range of $14 to $16. The stock has since extended gains, and was recently trading 13% above the IPO price. Kura Sushi raised $40.6 million in the IPO. The company went public at a time that the Renaissance IPO ETF IPO, +1.02% has gained 5.0% over the past three months, while the S&P 500 SPX, +1.04% has tacked on 2.9%.
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