E-Commerce Marketplace Poshmark Rockets Higher on Its IPO

Danny Vena, The Motley Fool
·2-min read
E-Commerce Marketplace Poshmark Rockets Higher on Its IPO

Poshmark's stock was ultimately priced at $42, but even at that higher sticker price, the company appears to have underestimated demand. The stock ended the trading day at $101.50, gaining a spectacular 142% on its first day of trading. Poshmark's website facilitates the buying and selling of secondhand fashion and luxury items including clothing, shoes, and jewelry.