Fancy Salad Shares Price Doubled

Sweetgreen’s shares nearly doubled in price mid-day Thursday, hours after the upscale salad chain made its first appearance on Wall Street.

The company set its price at $28 per share Wednesday, ahead of its initial public offering Thursday. The stock price jumped to about $54 at one point, and was hovering around $52 per share in afternoon trading.

The salad chain, opened in 2007 and today has 140 restaurants, has a goal of serving “healthy food at scale”. Customers can build their own salad or choose from a selection of menu items, which also include warm bowls. The meals are expensive, with some salads priced at about $15 before any additions or sides.

A Sweetgreen salad is perfect meal for office employees who prefer to to eat healthy and are not too concerned about spending. But the future of office work is unknown under accelerating remote work and work from home trending.