Poshmark shares more than double after trading begins

/ / News

Poshmark Inc. stock began trading on Thursday and quickly shot up 145%. The first trade was for $97.50 at 11:42 a.m. ET. Poshmark priced its IPO at $42 per share, ahead of the previous $35-to-$39 range. The digital fashion platform is going public at a time when shoppers are heading increasingly online rather than to stores during the COVID-19 pandemic. The Renaissance IPO ETF has rallied 112.4% over the last year while the benchmark S&P 500 index is up 16.2% for the period.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.