Coffee chain Reborn Coffee (NASDAQ:REBN) stock jumped 22% on its third day of trading in the wake of its $7M initial public offering last week.
Shares of Reborn opened at $4.65, hitting an early high of $5.22 before slipping to a low of $4.32. The stock recently changed hands at $4.85 at approximately 10:45 a.m. ET.
Reborn held its IPO on Friday, pricing 1.4M shares at $5 per share. The shares soared to a high of $12.45 during their debut session, before retreating to close at $4.80. The stock ended its second day of trading at $3.99, down 17% from Friday’s close and 20% from its IPO price.
For a more in-depth look at Reborn, check out SA contributor Donovan Jones’s “Reborn Coffee Seeks $40M IPO for Growth”.