Poshmark stock more than doubles to $7.4B after target-topping $277M IPO

Poshmark stock more than doubles to $7.4B after target-topping $277M IPO

bizjournals

Published

Online secondhand marketplace provider Poshmark Inc. got a huge markup on Wall Street Thursday, with its stock more than doubling after it raised $277 million Thursday in an IPO that handily topped its price targets. The Redwood City, California company's market cap roared to $7.4 billion in its first day of trading (Nasdaq: POSH). That's nearly six times the $1.25 billion it got after a round it raised last year. Poshmark sold 6.6 million shares for $42 each Wednesday, well above the targets it…

Full Article