Sweetgreen Inc. shares jumped 77% in their market debut Thursday, the latest new offering to surge on its first day of trading.
Shares of the salad chain closed at $49.50, valuing Sweetgreen—which isn’t profitable—at more than $6 billion on a fully diluted basis. Sweetgreen joins electric-truck maker Rivian Automotive Inc. , sneaker maker Allbirds Inc. and software maker Braze Inc. in producing big gains on their first day of trading this month.