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Jersey Mike's started trading on the NYSE under the ticker JMKE. The shares were priced at $23 but opened at $21 and fell about 2% in early trading. The IPO sold 43.5 million shares, raising about $1 billion and valuing the company at $7.3 billion. Investor demand was reported at about 15 times the number of shares offered.
Reformation, a women's clothing brand, started trading on the New York Stock Exchange on Thursday. Its shares were priced at $15 each in the IPO and opened at the same price, so the stock did not move up or down. The company sold 14,062,500 shares, raising about $211 million. It trades under the ticker REF and listed the same day as the sandwich chain Jersey Mike's.
Jersey Mike's, a sandwich chain, is preparing to sell shares to the public. The company set the IPO price at $23 per share. Melius Research, a Wall Street firm, started covering the stock and gave it a 'buy' rating.
On Thursday, analysts gave their latest ratings and price targets for several major companies. They covered Nvidia, Jersey Mike's, AMD, Meta, Microsoft, Arm, Target, and Starbucks. The calls included both upgrades and downgrades based on recent performance and outlook.
