Why El Pollo Loco (LOCO) Stock Is Surging Today

NEW YORK (TheStreet) -- Shares of El Pollo Loco Holdings (LOCO) are soaring 22.26% to $29.38 in early-market trading, following its initial public offering last Thursday.

The fast-casual restaurant company raised $107 million, selling 7.1 million shares for $15 each, in its IPO with share prices at the high end of the marketed range, Bloomberg reported.

The stock jumped 60% to $24.03 from $9.03 in first-day trading last Friday on the NASDAQ. 

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El Pollo Loco, Spanish for "The Crazy Chicken," specializes in fire grilling citrus-marinated chicken in front of its customers with more than 400 company-owned and franchised restaurants in the Southwest.
 

LOCO Price Chart LOCO Price data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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