Real Good Food stock has disappointing public debut

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Real Good Food Co. Inc. RGF, -6.83% received some jeers in its public debut, as the stock opened 2.8% below its initial public offering price, then bounced around before falling further. The health and wellness frozen food company said overnight that its IPO priced at $12 a share, below the expected range of between $14 and $16 a share, as the company raised about $64 million. The stock’s first grade was at $11.66 at 10:16 a.m. Eastern for about 244,000 shares. It has traded since then in a range of $11 to $12.75, and was last down 8.3% at the intraday low. At that price, the company was being valued at about $418.4 million, according to FactSet. The company disappointing debut occurred on a day that the Renaissance IPO ETF IPO, -2.28% was shedding 1.9% while the S&P 500 SPX, +0.49% was up 0.6%.

This article was originally published by Marketwatch.com. Read the original article here.

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