El Pollo Loco IPO pops as investors chase next Chipotle

Chicken is the new tech startup, at least on Wall Street. Mexican-style grilled chicken chain El Pollo Loco hosted its initial public offering Friday, and investors went loco.

The company debuted on the market at $15 a share under the symbol LOCO, with a valuation of $538 million dollars. Since then, share prices popped over 60 percent, climbing within sight of $25 a share. 

El Pollo Loco, or "The Crazy Chicken" in Spanish, is competing with KFC and Chick-Fil-A to fill the fast food chicken niche. The company places itself on the upper end of the fast food spectrum, offering quality ingredients for higher prices.

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