Getty
Last month, Napa’s Duckhorn Vineyards announced an IPO, or initial public offering, trading under the ticker “NAPA” on the New York Stock Exchange. As shares approached the $20 mark on its first day, Duckhorn Portfolio’s market cap briefly pushed past $2 billion.
A spokesperson for Duckhorn says that the company is currently in a mandatory SEC quiet period and unable to publicly comment. Its IPO is part of a wave of recent public offerings that demonstrate the financial potential of major U.S. wine brands in a volatile global market.
For some wine brands, an IPO grows both profitability and reach.