Normally, this would have been a tough week for IPOs. But, at least for new stock issues, investors have been willing to shrug off bad news as well as the doomsday talk about the budget standoff. On Wednesday, Dunkin’ Brands (Nasdaq:DNKN) had a stellar IPO, with its price spiking 47% on its first day of trading.
A day later, there was another hot deal: Teavana (NYSE:TEA). As the name implies, it operates stores that sell tea drinks and accessories. On its debut, the stock shot up 63.5% to $27.80, bringing the market cap to a cool $1 billion. (On Friday, the shares were off 0.8%).
If you’re a mall rat, then there’s a chance you’ve seen a Teavana store, with its employees standing outside and asking people to try a free cup. I’ve done it a few times — and yes, I will somehow walk into the store and buy some stuff. Read