Why Elon Musk is winning the billionaire space race in 2021: CNBC After Hours


CNBC 01 July, 2021 - 05:23pm 42 views

When did Krispy Kreme go public?

On April 5, 2000, the corporation went public on the NASDAQ at $21 using the ticker symbol KREM. On May 17, 2001, Krispy Kreme switched to the New York Stock Exchange, with the ticker symbol KKD, which it carried until its private acquisition. wikipedia.orgKrispy Kreme - Wikipedia

CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, CNBC.com space reporter Michael Sheetz explains which companies are ahead in the commercial space race. Plus, Robinhood officially files to go public on the Nasdaq.

SpaceX was seconds away from launching its 20th mission of this year Tuesday when the countdown was halted due to an aircraft entering the launch range, delaying the mission by at least a day.

Elon Musk took to Twitter to voice his frustration about the delay, reiterating prior criticisms he has made about regulations around the business of launching rockets.

"An aircraft entered the 'keep out zone', which is unreasonably gigantic," Musk wrote in a tweet.

"There is simply no way that humanity can become a spacefaring civilization without major regulatory reform. The current regulatory system is broken," he added.

Krispy Kreme shares closed Thursday up more than 23% despite a disappointing opening trade for the company's return to the public markets.

On Wednesday night, the doughnut chain priced its initial public offering at $17 per share, well below its planned range of $21 to $24 per share. The stock's first trade on Thursday afternoon was $16.30 per share, but shares quickly rebounded. When the markets closed, the stock was trading for $21 a share.

The share offering raised $500 million for the company and gave it an implied valuation of $2.7 billion. Krispy Kreme, which also owns Insomnia Cookies, is trading on the Nasdaq under the ticker "DNUT."

Robinhood Markets filed for one of the most anticipated initial public offerings of the year on Thursday, revealing rapid growth resulting in 18 million retail clients and more than $80 billion in customer assets.

Unlike many recent IPOs, Robinhood was profitable last year, generating a net income of $7.45 million on net revenue of $959 million in 2020, versus a loss of $107 million on $278 million in 2019, according to Robinhood's S-1 filing with the Securities and Exchange Commission.

However, the brokerage lost $1.4 billion in the first quarter of 2021 tied to emergency fundraising-related losses during January's GameStop trading mania. The company generated $522 million in revenue in the first quarter if 2021, up 309% from the $128 million earned in the first quarter of 2020. Options trading accounts for about 38% of revenue while equities and crypto are 25% and 17% of revenues, respectively.

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Krispy Kreme is off to a seriously rough start as it goes public again

KCTV Kansas City 02 July, 2021 - 05:43am

Krispy Kreme Doughnuts Inc. is expected to begin trading Thursday.

Krispy Kreme's cameo appearance on the public markets is off to a not-so-sweet debut.

The doughnut chain, which is expected to begin trading Thursday, has priced its initial public offering at $17 per share, raising about $500 million. That's well below what the company was hoping for — $21 to $24 per share — when it announced its original terms last month.

The tepid reaction from investors perhaps indicates Wall Street isn't keen on a chain that exclusively focuses on sugary treats during this health-conscious era.

Krispy Kreme will trade on the Nasdaq under the ticker symbol "DNUT." J.P. Morgan, Morgan Stanley and Citigroup are some of the major banks underwriting the stock.

The 84-year-old company announced in May it was, once again, going public. Krispy Kreme delisted its stock in 2016 after it went private following a $1.35 billion purchase from JAB Holding Company, a private firm that invests in food and beverage brands. It had previously gone public in 2000, and had some difficult years before the 2016 acquisition.

The company has been working to remodel its stores in recent years and has also opened lavish locations showcasing its sugary treats. Last year, Krisy Kreme opened a 4,500-square-foot location in New York City's Time Square with a glaze waterfall and a 24-hour street-side pickup window.

Krispy Kreme has around 400 locations in the United States. In total, there are 1,400 shops in 33 countries.

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