Burritos power Guzman Y Gomez to hot sharemarket debut

21 June 2024

Shares in Australian founded Mexican food restaurant Guzman Y Gomez (GYG: it’s not only an initialism, it’s a ticker code) had a stellar debut on their first day of trading on the ASX, with one market pundit describing the launch as “the hottest float on the stock market in years“:

Its shares opened at $30, a premium of more than 36 per cent to what investors paid ahead of the blockbuster initial public offering under the ticker “GYG”.

The float price for GYG shares was $22, and as of the close on trading, yesterday afternoon, were priced at $30 a piece. GYG’s burritos sure are hot, as I’ve said before.