According to a report from Bloomberg, the Texas-based chain of restaurants ‘Torchy’s Tacos’ is in talks with several banks about the possibility of an IPO within the next year.
Our data has shown a nearly universal decline in restaurant-related chatter over the past year, and Torchy’s is not an exception.
Consumer Mentions of the Taco shop have stalled in the past year, currently sitting -11% below the prior year on a 90-day moving average. The news surrounding this potential IPO is very hush-hush, with the reports stemming from “people familiar with the matter.”
Based on the underlying consumer demand, we won’t be first in line if/when they do start selling shares.