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Signage of Petco Health and Wellness Co. outside the Nasdaq MarketSite during the company’s initial public offering in New York, the United States, on Thursday, January 14, 2021.
Michael Nagle | Bloomberg | Getty Images
(This story is for CNBC Pro subscribers just.)
Fundstrat Global Advisors Co-founder Tom Lee told CNBC on Thursday that the string of rising debuts in the public market could be a sign that retail investors are continuing to pile into stocks.
Lee’s comments came shortly after Petco Health and Wellness closed its first day of trading with over 60% market cap of over 60%. “It’s got a lot of excitement and part of me says that’s a little alarming,” Lee said on Closing Bell.
