Poshmark surges 150% on its first day of trading after $277 million IPO
Will DanielJan 15, 2021, 00:48 IST
Rafael Henrique/SOPA Images/LightRocket via Getty Images
Poshmark soared as much as 150% on Thursday after going public Wednesday
The online marketplace for second-hand goods raised $277 million
IPO Wednesday, selling 6.6 million shares for $42 apiece.
Poshmark s leap continues the trend of massive investor demand for IPOs and SPACs, the company trades under the ticker POSH on the
Nasdaq Global Select Market.
Poshmark surged as much as 150% on Thursday as the second-hand goods provider made its public-market debut.
The company s shares quickly jumped above the offering price of $42. This comes after
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Trading on the Nasdaq Global Select Market under the ticker AFRM shares have gained more than 100%. They were up another 41% on Thursday, last trading at $137.51, after pricing at $49 per share.
OATLY
As for consumer deals on the docket, earlier this month, FOX Business exclusively reported that Sweden-based Oatly, which uses oats to make vegan products like oat milk, yogurt, and cheese, is slated to go public sometime this year.
The company, backed by the likes of Oprah Winfrey, Natalie Portman, and rapper Jay-Z’s entertainment company Roc Nation, could raise $1 billion and has reportedly hired Morgan Stanley, JP Morgan Chase and Credit Suisse to advise on the IPO, according to CNBC. Blackstone Group last July led a $200 million round of funding for Oatly.