Stephen Gandel, Columnist

Bobby Flay Cooks Up a Subprime IPO

The TV chef turns to a relatively unknown firm with a sketchy track record.

July 18, 2017 at 1:50 PM UTC

Stephen Gandel is a former Bloomberg Opinion columnist covering banking and equity markets. He was previously a deputy digital editor for Fortune and an economics blogger at Time. He has also covered finance and the housing market.

1500328130_GettyImages-615038624 — Photographer: Gustavo Caballero/Getty Images for NYCWFF

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The burger bubble has officially popped.

TV chef Bobby Flay said on Monday that he would sell shares to the public in his fast-casual chain, Bobby's Burger Palace. The offering comes two and a half years after restaurateur Danny Meyer took Shake Shack Inc. public and a year and a half since Shack's shares crashed, plunging from $90 to $32. It's been stuck in the low 30s ever since.