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Friday, April 19, 2024

Kenvue Stock Up 5.37% Since IPO – Kenvue (NYSE:KVUE)

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Kenvue KVUE opened up its shares for public trading for the first time since it filed for IPO in January 2023. The company agreed to initially offer 172.81 million shares to the public at $22.00 per share. On its first day of trading, the stock rose 5.37% from its opening price of $25.53 to its closing price of $26.90.

Kenvue Performance On First Day of Trading

About Kenvue and It’s IPO

Kenvue is the world’s largest pure-play consumer health company by revenue. Built on more than a century of heritage and propelled forward by science, our iconic brands—including AVEENO®, BAND-AID® Brand Adhesive Bandages, JOHNSON’S®, LISTERINE®, NEUTROGENA®, TYLENOL® and ZYRTEC® — are recommended by health care professionals and can be trusted by consumers to improve their daily lives.

For its IPO, KVUE agreed to offer 172.81 million shares at a price of $22.00 per share, with an insider lock-up period of 180 days, ending on October 31, 2023.

An insider lock-up period is a period of time after a company first goes public where major shareholders are not allowed to sell their shares. The insider lock-up period makes sure that the market does not get oversupplied with shares of the company.

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Traders may short the stock leading up to the lockup-period expiration date in hopes that the price will fall due to an increase in supply of shares. Retail traders should be watching this stock’s short interest as it moves closer to lockup expiration.

See also: Benzinga’s Most Shorted Stocks

This article was generated by Benzinga’s automated content engine and reviewed by an editor.

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