Shares of Annie’s, a California-based seller of natural and organic food products, soared nearly 90 percent in their stock market debut Wednesday.
The company's stock price jumped to over $35 on the New York Stock Exchange. Annie's had upped its expected range earlier this week to between $16 and $18 apiece from $14 to $16. Its ticker symbol is "BNNY."
Annie's, known for its bunny mascot and products like macaroni and cheese and snack crackers, is available in over 25,000 retail locations across North America.
"We're in a good space," said Annie's CEO John Foraker in an interview. "Natural and organic is a mainstream movement -- it's not a niche."
In 2011, Annie's revenue grew 23 percent to $117.6 million. Profit increased to $20.2 million from $6.0 million the year before.
Reuters contributed to this report.
