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Petco (WOOF) Stock Latest 17.9% Rally Spikes Hope for Big Short Squeeze

Petco (WOOF) Stock Latest 17.9% Rally Spikes Hope for Big Short Squeeze
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U.S. pet retailer Petco valued at over $5 billion after Nasdaq debut


2 Min Read
(Reuters) - Shares of Petco Health and Wellness Co Inc jumped as much as 72.7% in their market debut on Thursday, giving the U.S. pet supplies retailer a market capitalization of $6.81 billion.
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The company’s shares opened at $26, 44.4% above its initial public offering (IPO) price of $18 per share.
Petco offered 48 million shares and raised $864 million in its IPO as it cashed in on a pandemic-driven surge in pet adoptions and spending on pet care.
The debut comes at a time that could be the biggest week for new listings in over five years, as companies rush to take advantage of the strongest market for IPOs in nearly two decades, after a lull last year. ....

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