Chicken is the new tech startup, at least on Wall Street. Mexican-style grilled chicken chain El Pollo Loco hosted its initial public offering Friday, and investors went loco.
The company debuted on the market at $15 a share under the symbol LOCO, with a valuation of $538 million dollars. Since then, share prices popped over 60 percent, climbing within sight of $25 a share.
El Pollo Loco, or "The Crazy Chicken" in Spanish, is competing with KFC and Chick-Fil-A to fill the fast food chicken niche. The company places itself on the upper end of the fast food spectrum, offering quality ingredients for higher prices.
For more, watch this Newsy video.