Bojangles stock is blowing up. In its first day on the market, the fried chicken chain has been met with great success, Business Insider reports.
The North Carolina-based food chain is known for its Southern-style food. This includes 12-hour marinated fried chicken, biscuits made from scratch and all-day breakfast offerings.
Originally pricing its IPO at $19 a share (an optimistic price), the company sold 7.75 million shares. Eventually, prices rose to $23.40 a share and at one point $27.
B0jangles has 622 restaurant locations in 10 different states in the East Coast. Since 2012, sales have grown from $349 million to $430 million. Now that the company has gone public, its plans of expansion to the West Coast is more than likely.
We’ll probably see more competition between them and Popeyes in the near future. Especially since Bojangles caters too an all-day breakfast menu. That’s usually a HUGE sell.