05:10 AM EST Share From breaking ground 12 years ago to $1 billion in revenue today, founder Patrick Zalupski says ‘being a public company was the best option’ for growth.
Dream Finders Homes Inc.’s stock doubled in price after the Jacksonville-based homebuilder launched its initial public offering in late January.
That’s good news for Dream Finders founder and CEO Patrick Zalupski, who retains a controlling voting interest in the company after the IPO.
Patrick Zalupski
But Zalupski wasn’t celebrating the price spike.
“Of course, up is always better than down but believe it or not, we don’t spend a lot of time watching the share price,” Zalupski said March 8 by email.
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Dream Finders Homes Inc.’s initial public offering was a smash hit on Wall Street, with the stock more than doubling in price when it began trading a month ago.
But as analysts weighed in last week with their first reports on the Jacksonville-based homebuilder, the stock cooled.
Three analysts rated it at the equivalent of a “hold” and another rated it as “underperform.”
Dream Finders sold 11.04 million shares of Class A common stock at $13 each and the stock jumped higher immediately when it began trading Jan. 21. It eventually reached a high of $31.98 two weeks ago.
The analysts have a high opinion of the company but think its market price has been too high since the IPO.
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