Jersey Mike's eyes $12B IPO valuation
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 20 April 2026
⏱️ 4 minutes
🧾️ Download transcript
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Why it looks too soon to short stocks
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis. |
| 0:09.5 | Good afternoon. Today is Monday, April 20th, and I'm your host, Kim Khan. Our top story so far, |
| 0:15.3 | Jersey Mikes is looking to raise $1 billion at evaluation of at least $12 billion with its IPO. The restaurant company is in talks |
| 0:22.0 | with underwriters about details on the size of its offering. Jersey Mike submitted a confidential |
| 0:26.2 | filing with the SEC as it prepares for the IPO. A $12 billion valuation would make Jersey |
| 0:31.2 | Mike's the ninth largest restaurant company in the U.S. by market cap, just ahead of Kava Group, |
| 0:36.1 | Texas Roadhouse, and Dutch Brothers. |
| 0:38.1 | Bloomberg reports that the Blackstone-backed company is seeking to complete its IPO as soon as |
| 0:42.1 | Q3. Jersey Mikes traces its roots to 1956 when the original Mike's subs opened in Point Pleasant. |
| 0:48.5 | Founder Pete Cancrow bought the store and began to franchise the chain in the late 80s. |
| 0:52.6 | From the original single store, Jersey Mikes has scaled to operate over 3,200 sandwich shops across the U.S. and Canada. |
| 0:58.0 | It's largely recognized as one of the fastest growing, fast casual brands. |
| 1:02.0 | Importantly, consumer surveys point to strong name recognition and favorability. |
| 1:06.0 | Jersey Mikes has announced a major international push, signing a franchise agreement to open 400 stores in the United Kingdom in Ireland as part of a broader global expansion strategy. |
| 1:15.7 | A Jersey Mike's IPO could help fund the international expansion plans while providing investors exposure to a scaled franchiser model with recurring royalty streams and asset light economics. |
| 1:25.6 | Among active stocks, top build is surging after agreeing to be acquired by QXO in a deal valued |
| 1:30.9 | at roughly $17 billion. |
| 1:32.8 | TopBuild is a leading distributor and installer of insulation and related products. |
| 1:37.4 | AMD, Intel, and Ladis Semiconductor received a boost ahead of earnings after Stiefel raised |
| 1:41.9 | price targets on all three. |
| 1:43.6 | Analyst cited multi-gigawatt |
| 1:45.0 | strategic commitments from meta and open AI for AMD, described lattice as a cleaner expression |
... |
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