CDRE - Cadre Holdings stock soars for third session up more than 35% since last week's IPO

Cadre Holdings (NYSE:CDRE) soared nearly 20% Monday as the police-equipment firm rose for a third straight post-IPO session to gain more than 35% since going public late last week. CRDE rallied to a $17.98 close, up 17.5% on the day and 36.3% since the firm went public just three sessions ago at $13 a share. Cadre (CDRE) rose on no apparent news other than continued investor enthusiasm for its initial public offering, which originally got a rocky reception on Wall Street. The company initially planned to sell 7.1M shares at a projected $16 to $19 a share, but pulled its IPO in August amid apparently weak demand. However, CDRE revived a scaled-down IPO this fall, offering 5.8M shares at an expected $12-$14/share range. The IPO fared better with those terms, pricing last Thursday at a midpoint $13 a share and selling 6M shares instead of the 5.8M planned. Shares then

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Cadre Holdings stock soars for third session, up more than 35% since last week’s IPO