NIO plans to raise $1 billion by issuing convertible senior notes, Moderna stock rebounds slightly, the head of Square, Block's payments platform, is...
Coinbase shares rise modestly following a slump in the previous session after the SEC sued the cryptocurrency broker, United Natural Foods slashes guidance for the fiscal year, while Yext boosts its fiscal-year revenue and profit expectations.
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Poshmark stock has more than doubled from its IPO price. CEO Manish Chandra sees the secondhand market ramping up for branded apparel and other goods as consumers embrace social selling. Michael Nagle/Bloomberg
Poshmark on Thursday continued the recent run of spectacular venture-backed initial public offerings, priced at $42 a share, above the $35 to $39 target range and opening at $97.50, a gain of more than 130% from the IPO price. Poshmark founder and CEO Manish Chandra sees a potentially huge market that’s just getting started—and apparently investors agree with him.
Including the “green shoe,” over-allotment option, Poshmark (ticker: POSH)will have 74 million primary shares outstanding after the offering, giving the company a market valuation of around $7.5 billion. On a fully diluted basis, reflecting in-the-money options and restricted stock units, there are about 10 million more shares, boosting the valuation to around $8.5 billion.
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With just a few days left in 2020—thankfully—it’s fair to say that it’s been a wild ride, for the market and the world. Yet some retailers thrived in the chaos. Here are the five best-performing retail stocks with a market value of more than $1 billion in the U.S. this year, through Wednesday’s close.
1. Overstock.com (ticker: OSTK) stock took the crown, with a 746% gain this year, blowing past the competition, all of which gained less than 200%. The company was in the sweet spot for 2020, as it sells home furnishings online:...
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