Dunkin' Stock Jumps 47 Percent On 1st Day
On its first day of trading, stock in Dunkin' Donuts shot up nearly 47 percent.
The NASDAQ exchange began trading the Canton company under the ticker symbol DNKN Wednesday morning. And at one point, the stock was up more than 50 percent above its initial offering price of $19 per share.
The stock closed trading Wednesday at $27.85 per share. The strong reception shows that investors were attracted to the well-known brand and the company’s growth plans.
Dunkin’ plans to use the money from selling stock to pay down debt and invest more in marketing and new franchises. There are Dunkin’ stores left and right here in the Northeast, but the coffee and doughnut chain has few shops west of the Mississippi.
This program aired on July 27, 2011. The audio for this program is not available.