Petco Health & Wellness has shed nearly a quarter of its initial public offering day’s closing price. But CEO Ron Coughlin apparently doesn’t think the stock will sit or stay at its current level.
The shares of the pet-product company (ticker: WOOF) closed at $29.40 on Jan. 14, the initial day of trading, 63% above its $18 IPO price. Thursday, they ended at $22.60.
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