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Question
Article SummaryStarting as a Chicago antique store that sold sandwiches on the side, Potbelly has grown from this 1977 beginning into a company which today operates approximately 300 sandwich shops in the United States. In October 2013, Potbelly sold stock for the first time through an initial public offering (IPO), with shares jumping in price from the initial offering price of $14 to more than $32 on the same day. Since 2011, Potbelly has seen an increase in in both sales and revenue, and earned a profit of $2.8 million in the first half of 2013.
Source: Matt Krantz, "Potbelly IPO shares more than double on open," USA Today, October 4, 2013.
When Potbelly sold stock to the public in its IPO, it did so through the NASDAQ market. This was an example of Potbelly using ________ to raise funds.
A) indirect finance
B) direct finance
C) bonds
D) corporate governance
Answer
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