To anyone who has ever asked “What is in this mac n’ cheese?” you now have an answer. Money!
Annie’s (BNNY), which makes organic mac n’ cheese and other food products, just started trading on the public markets today and the stock is already on a tear. The company priced the IPO at $19 per share, and it was recently trading at $33.44, up 76%. As of Monday the company was expected to price the shares at $16 to $18. The company planned to raise about $95 million in the IPO, and it was reportedly highly oversubscribed. About 80% of the shares sold were owned by insiders.
