Stocks stocks stocks! Everyone loves stock, especially since Facebook got on the stock market. Sure some (most? some) people think that Wall Street is the root of all evil, but those people forget a very important thing about the stock market: running around yelling “BUY” and “SELL” into your cellphone makes you look a lot less crazy when you’re actually buying or selling stocks. And while those of us here at Brokelyn are by no means the kind of people you should take investment advice from, we figured we’d at least pass on a hot tip to you: Fairway has gone public. As in, shares of Fairway are being traded on the floor of New York Stock Exchange this very moment.
Dealbook has a breakdown of the pros and cons for investing in the shares, which we’re not going to sit here and say are accurate one way or another. Because most of our experience with investments involve playing The Wall Street Kid in various states of intoxication. But we do think it was smart of them to wait until now to go public, since in the wake of their Red Hook re-opening, they can claim that they’re the only publicly traded grocery store endorsed by Miss America herself.
According to Dealbook, the shares are currently trading for around $17, which, if you’re going to spend your money on something other than food, alcohol, rent, a nice gift for your girlfriend, drugs and your cell phone bill, seems like a reasonable price to pay for a small ownership stake in the grocery chain. It’s also just $10 less per share than stock in Facebook, which makes us double over laughing. Although be warned: until you can get your hands on 51% of the stock, you can’t march in to the Red Hook store, start taking things off the shelf, eating them and telling people “It’s OK, I own the joint.” Patience though, climb the ladder.
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