OTLY - Oatly stock pops as much as 15% as post-IPO rally pushes into second day

Oprah Winfrey-backed oat-milk brand Oatly (OTLY) rallied more than 15% intraday on Friday, the company’s second session following a well-received IPO that saw the stock rally nearly 20% on its first trading day.Swedish-based OTLY’s American Depositary Shares rose to as high as $23.25 intraday, up 15.1% on the session and 36.8% from the stock’s $17 initial public offering price.Oatly later pulled back, but was still changing hands at $22.05 shortly after 3:30 p.m., ahead 9.2% on the day and some 30% from the stock’s IPO price.OTLY makes a popular brand of oat mile and other plant0based dairy alternatives. The company went public with great fanfare earlier this week thanks it part to its celebrity backers.In addition to Winfrey, pre-IPO celebrity investors included rapper Jay-Z, actress Natalie Portman and ex-Starbucks CEO Howard Schultz. Oatly’s institutional backers included Blackstone Group (BX) and Rabo Corporate Investments.However, Seeking Alpha contributor Noah Wilson recently noted that the company’s

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Oatly stock pops as much as 15% as post-IPO rally pushes into second day