(Bloomberg) -- The buying spree during Chewy Inc.’s debut session is reaching levels rarely seen since the 2008 financial crisis.
Shares are on pace to close 58% above Thursday’s IPO price. That would give Chewy the second-best debut of the past ten years, among U.S. IPOs that raised at least $1 billion. It’s just the latest in a string of strong starts for American firms tapping public markets.
Chewy lags only Twitter Inc., which surged 73% when it started trading in November 2013.
Shares in the PetSmart-Inc. controlled pet supply e-tailer opened 64% above the IPO price Friday morning, the biggest opening pop among $1 billion IPOs since LendingClub Corp. jumped 65% in its 2014 debut. LendingClub finished its first session 56% higher.
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