IPOs

October 22, 2021

Portillo’s Goes Public 🌭 🚀

Portillo’s investors’ wallets are fatter and their stomachs are full from gains and hot dogs. 🌭 🤑

$PTLO sizzled 45.5% on Thursday for its stock market debut. This freshman followed up its impressive debut with a 28.6% gain today. Here’s the powerful intraday chart:

In 2014, the company was bought by Berkshire Partners for nearly $1 billion. Since then, Portillo’s has been on a growth mission. The 58-year-old Chicago-founded company currently runs 67 restaurants, but expects to operate over 600 in the coming 25 years. 

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With the proceeds from IPO, and the pandemic behind them, the company hopes to open new locations in Arizona, Florida, and Texas. They’re supposedly mulling breakfast options too. 

Portillo’s CEO Michael Osanloo said: “While we are a 58-year-old company, we are still infants when it comes to our growth inflection point.”

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