CHARLOTTE-- Bojangles' stock price soared in their first day of public trading.
Within a few hours, the initial public offering jumped from $19 per share to more than $25.
It shows the brand is popular, however.
"The fact that the stock "popped," as they say in the investment world--30 percent--is unusual, and in general not a good thing," said UNC Charlotte Finance Professor Emeritus Ben Nunnally.
Basically, they left money on the table by not correctly predicting the market value. Nunnally thinks they made the IPO move to save up for expansions. Our exclusive interview with Bojangles' CEO Clifton Rutledge backs up that theory. Rutledge says they open a new store roughly every six days.
He says it's a great day for the brand, and they're looking forward to a many successful years ahead.