I am trying to learn about stock market.

Why did El Pollo Loco's stock went up on the first day of IPO by 60%. Did I miss some news?

IPOs usually result in huge first-day gains, as long as the company is well-known and reputed.

You're not too late, by the way. If you buy in at market open now, you'll gain, since the second day usually results in a large gain as well, often more than the first day. That's because people learn of the news a day late and enter in late.

It was under priced.

I am trying to learn about stock market.

Why did El Pollo Loco's stock went up on the first day of IPO by 60%. Did I miss some news?