Multiple home barbecue companies are going public after a successful year and a half amid the COVID-19 crisis, an apparent reflection of increasing consumer orientation toward home cooking after many months during which dining out was sharply curtailed.
Traeger — a manufacturer of automated wood-pellet smokers — this week announced an initial public offering of 23,529,411 shares of common stock at as much as $18 per share. The company was expecting to realize around $400 million in the IPO.
The company in its IPO prospectus said it “more than doubled revenue from $262.1 million in 2017 to $545.8 million in 2020,” with huge surges in social media followings last year
Are you having a hard time understanding why the housing market is heating up, and why the cost of essentials such as milk, eggs, and gas is climbing? Are you in the market for a used car? Then you know how expensive those are right now. And why can’t businesses find employees, yet millions remain unemployed? Economists agree the recovery isn’t like anything we’ve seen before. That’s because we’ve never had a situation before where the heavy hand of government shut down private enterprises on a nationwide scale. The market distortions are enormous. As states reopen, there is a herky-jerky feel to the economy that has many people unsettled.
Former Federal Reserve vice chairman Alan Blinder wrote in the Wall Street Journal recently, “the recovery is not linear. Rather, it is proceeding in fits and starts. Sales of physical goods, for example, dipped only briefly when Covid hit, recovered quickly, and are now well above their pre-pandemic levels. In stark contrast, businesses that deliver personal services, such as restaurants and hotels, suffered a devastating depression and are still below their pre-pandemic levels.”
By far the most uneven outcome so far since the economy crashed in spring 2000, besides the 7.6 million fewer jobs compared to pre-pandemic levels, has been inflation, which is up 5 percent the past 12 months.
A majority of Americans said for the first time in over a year that returning to their “normal” pre-pandemic lives did not pose a moderate or large health risk, an Axios/Ipsos survey shows.
The survey, released Tuesday, showed just 43% of Americans saying that returning to “normal” posed either a large or moderate risk to their health. It also shows that majorities of Americans have begun to enjoy several aspects of pre-pandemic life: 54% of Americans have eaten at a restaurant, 59% have visited family or friends and 31% have made summer plans – all in the past week alone.
The return to normalcy and the mental health benefits associated with it directly corresponds with the amount of Americans who say they have been vaccinated. Almost two-thirds of respondents say that they have received at least one shot, and 18% say that their emotional well-being has improved in the past week, which the survey notes is an all-time high during the pandemic.