Posted on 08/10/2005 7:50:57 AM PDT by gopwinsin04
Ruth's Chris Steak House Inc. served up a sizzling serving of stock Tuesday, its first day of trading. Shares of Ruth's Chris rose to close at $20.70 Tuesday on the NASDAQ Stock Market.
The Metarie, La; restaurant chain priced 13 million shares at $18 million per share, above the expected range of $15 to $17.
Besides its name recognition, Ruth's rising financials--revenue rose 14.6 percent last year and operating income climbed 50.6 percent from the year earlier--helped to draw investor interest.
Ruth's Chris is the largest IPO since Domino's Pizza Inc. went public in July 2004, and the first restaurant IPO to price above its expected financial range since last October's Texas Roadhouse, according to Thompson Financial.
(Excerpt) Read more at ap.tbo.com ...
"Shares of Ruth's Chris rose to close at $20.70"
What will that get you at Ruth's? A couple of salads maybe?
Damn, at work I needed to find an IPO security to test this morning and here it is, thanks.
I think I would have rather invested my money in Baidu.com!
LOL... At $18 million a share I'll have to settle for just a hundred shares.
Anyone been to a Ruth's Chris? My hubby and I are heading down to Denver for the weekend for our 10th anniversary. We were thinking of trying it out. The website sure makes the food look tasty!
Any ideas on prices?
I went there a few yrs ago...the steak was tasteless.
Literally, without taste.
We had a work party there once when I lived in Seattle. It really is good. But not as good as El Gaucho.
lmao, typo. That's almost as expenive as Warren Buffet's stock.
Weirdest. Restaurant. Name. EVER.
Dan
Must be Sean Hanitty's fault.
Owl_Eagle, I think we found that gift idea you are always looking for. Stocks, the gift that hopefully keeps on giving. Dividends that is.
Actually all my experiences with Ruth CVhris have been great. The steaks and chops are excellent. The bad news is that you need to plan on bringing considerable amounts of cash. Plan on $200 for the meal.
$18 million per share! Wow! And I thought Berkshire-Hathaway was expensive.
Holy Cow! Really?! I gather from the site that you buy everything seperate, ie, salad, veggie, potato?
My mouth is watering.
They are kind of expensive, but are supposed to have absolutely great food. Their Web site does not list prices, but does have a lot of other information: www.ruthschris.com
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