“Dole IPO Drops Over 9% During First Day Of Trading”

“What happened: Shares of the world’s large produce company slid by over 9% on Friday after debuting on the New York Stock Exchange. Dole (NYSE: DOLE) opened for trading at $15, at an implied market value of approximately $1.5 billion, which was below the initial public offering of $16. The stock closed at $14.50 on Friday, giving the company a market valuation of $1.35 billion. “The timing was what it was, the valuation is what it is,” said Chief Executive Officer Rory Byrne in an interview…”

https://finance.yahoo.com/news/dole-ipo-drops-over-9-160435132.html

Wait I don’t understand. Do people not see how the price of food is dramatically increasing? Unless this stock has some financial problems I don’t know about this stock is 100% buy. There’s no way this stock should be lower next year unless it loses out to competition or something of that nature. This is a really safe play medium term gains in my opinion.