winc

winc

Pour one out for Winc.

The wine subscription company behind Summer Water and Wonderful Wine Co started trading on the New York Stock Exchange on Thursday and received a tepid welcome from investors. The stock debuted at $13 per share and climbed to a high of $14.20 before closing at $12.27, down by about 5%.

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Santa Monica-based wineseller Winc has postponed its expected debut on the New York Stock Exchange.

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Buoyed by a surge in sales during the pandemic, Playa Vista-based wineseller Winc aims to raise as much as $92 million in a public debut that's anticipated this week.

The 10-year-old company expects to price its IPO between $14 and $16 per share and has applied to list on the New York Stock Exchange under the symbol "WBEV."

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