Real Good Foods IPO Not Doing Real Good

Real Good Foods Co. launched an initial public offering of stock that closed Nov. 9, raising approximately $68 million, below the target of $86.25 million.

A week earlier, the Cherry Hill, N.J., maker of grain-free and better-for-you frozen entrees projected the initial stock price to be $14-16 per share. Instead, the stock was priced at $12 per share when it launched on Nov. 5, and on Nov. 9 it was selling at just under $9.

Company sales were nearly $39 million in 2020 and $35.5 million in the first six months of 2021, according to the filing, but it's never made a profit. It's listed on the Nasdaq Global Market under the ticker symbol RGF.