Friday, October 26, 2018

YETI Drops On IPO Debut

Austin-based outdoor consumer products maker YETI has its IPO debut on Thursday, not without a hiccup, as the company's stock dropped below its IPO offering price in the first day of trading. YETI priced its IPO on Wednesday evening, selling 16 million shares of its stock at $18 per share, below its earlier estimate initial IPO range of $19.00 to $21.00 per share. After a rough first day as a public company, YETI closed at $17 a share, or a 5.5 percent drop. YETI is now trading on the New York Stock Exchange.