Why the Teavana IPO Euphoria?
July 28, 2011 at 12:14 PM EDT
It's not so much the company...it's the sector and a desperate grab for alpha (outperformance). I've been asked why a tea company, which yesterday was pricing 7.14 million shares at $13-$15, priced at $17, and opened at $28.95 (!). Here's the answer...