Petco Leaps 73% In It's First Day On The Stock Market

Petco soared as much as 73% in its first day of trading on Thursday.

Petco raised $817 million in its IPO debut after its shares priced at $18.

The IPO frenzy has continued into 2021 following the trading debut surges of Affirm and PoshMark.

Business Insider reports that Petco priced its IPO at $18 per share and sold 48 million shares.

The Pet Care company operates about 1,470 pet-care centers that sell food, toys, and supplies for a range of pets.