The animal rights activist organization PETA says it bought into Canada Goose’s initial public offering Thursday in order to protest the company’s use of fur and goose down.
The Canadian luxury retailer priced its IPO at $12.78 a share on Wednesday and opened for trading at $18 Thursday.
PETA said it had bought $4,000 worth of stock – about 230 shares – at $17.15 a share in order to submit shareholder resolutions and speak at annual shareholder meetings.
“PETA’s first order of business as part owner of Canada Goose? To pressure the company to stop using fur from cruelly trapped coyotes and down feathers from slaughtered geese,” the company said in a statement.
Shares of Canada Goose closed at $16.08 Thursday, resulting in a $249.56 loss in PETA’s stake.