...Canada Goose Holdings Inc. (NYSE:GOOS) stock closed almost 27% higher on Thursday [the IPO was priced at $17 Canadian] in its first day of trading on the TSX & NYSE [and, in late Friday morning (11:30AM) was trading was up a further 4%] but one investment house has cashed out already. Here's why.

Written by Noah Zivitz

[GOOS is a Canada-based company, which is a designer, manufacturer, distributor and retailer of outerwear for men, women and children, sells it products to a mix of functional and fashionable retailers, including luxury department stores, outdoor specialty stores, and individual shops reaching these retailers through a network of international distributors and direct delivery in approximately 40 countries. In addition, it has sales through country-specific e-commerce platforms to customers in Canada, the United States, the United Kingdom and France. The Company’s accessories focus on hand wear, headwear and neckwear.]

After day-one of hype, the company’s CEO, Dani Reiss, made it clear he’s gunning for more than one day of fireworks telling BNN on late Thursday afternoon:

“Obviously we are really flattered that stock market prices have traded up and things are looking really good. We’re looking at this in the long term. We have always been aiming to deliver long-term shareholder value.” 

Bruce Campbell, president of Oakville, Ont. based boutique investment shop Campbell, Lee & Ross Investment Management, however, isn't sticking around to see how that plays out. He has cashed out...saying in an interview with BNN on Friday morning:

"You have to remember, there's great companies and then there's great stocks...and we thought it was no longer a great stock to own at 40x earnings so we're no longer shareholders."

Campbell added he thinks Canada Goose shares will be range-bound between roughly $17 and $20 for a while. [GOOS is currently trading at $23.09.]

"The proof will be in the pudding, but it will take a while. I suspect the stock doesn't flounder, but it maybe trades in a pretty wide range."

BNN will keep gathering insight on how/whether GOOS can make sure it doesn’t fizzle out in shareholders’ portfolios. As context, here are some reference points on other recent high-profile IPOs:

• Freshii (TSX:FRII): Priced at $11.50. Closed yesterday 6% below post-IPO peak.
• Aritzia (TSX:ATZ): Priced at $16.00. Closed yesterday 19% below post-IPO peak. 
• Snap (NYSE:SNAP): Priced at US$17.00. Closed yesterday 27% below post-IPO peak.