Hot stock tip: Chicken Soup for the Soul
“These are the times that try men’s souls,” was written more than two centuries ago. But given this week’s events, they could have popped up in any blog or tweet in recent days.
Then what better time for a little Chicken Soup for the Soul?
On Friday, the provider of positive vibes became a publicly traded company, Chicken Soup for the Soul Entertainment Inc., offering 2.5 million shares for $12 each.
Chicken Soup produces television programs and online videos, but is best known for books sold under the same name, with more than 250 published titles in 40 languages.
The company was founded in 1993 by motivational speakers Jack Canfield and Mark Victor Hansen, who sold what was essentially still a company focused on books in 2008.
Chicken Soup for the Soul Entertainment CEO William Rouhana described it as a Netflix for Chicken Soup fans.
Chicken Soup had a “mini initial public offering,” which gives smaller investors and individuals the ability to buy shares. Startups, through a mini IPO, can raise up to $50 million. Chicken Soup is raising $30 million.
Already an investor in Chicken Soup is actor Ashton Kutcher, who has been active with startup companies for years.
Chicken Soup bought Kutcher’s media company A Plus late last year, and Kutcher became an investor in Chicken Soup for the Soul.
Other investors weren’t feeling cheered on the first day of trading, however. Shares of Chicken Soup for the Soul Entertainment slid about 12 percent Friday.