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Jersey Mike’s Subs Inc. signage during the company’s initial public offering ceremony at the New York Stock Exchange on July 30. Photographer: Michael Nagle/Bloomberg
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By Janet Freund and Daniela Sirtori
July 30, 2026 at 1:11 PM EDT
Updated on July 30, 2026 at 4:09 PM EDT
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Jersey Mike’s Subs Inc. shares slumped 6% in their first ever trading day, after the company and some of its shareholders raised $1 billion in a US initial public offering that priced at the midpoint of its marketed range.
The stock closed at $21.63 each, below its IPO price of $23 per share. The trading gives the Tinton Falls, New Jersey-based sandwich chain a market value of $6.87 billion, based on the outstanding shares.
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