Arhaus stock debuts 3.8% below its downsized IPO's price, then turns higher

Shares of Arhaus Inc. /zigman2/quotes/230666270/composite ARHS -9.73% received a mixed reaction in its Wall Street debut, as the stock opened 3.8% below the initial public offering price, then quickly rose above it. The Ohio-based premium home furnishings retailer's downsized IPO priced at $13 a share, below the expected range, as the company raised $167.7 million. The stock's first trade was at $12.50 at 11:17 a.m. Eastern for 1.1 million shares. At that price, the company was valued at about $1.75 billion. The stock has bounced since then, to trade recently up 2.5% at $13.32. The stock's mixed opening comes on a day that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -5.82% dropped 1.7% while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.31% rose 0.2%.

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Arhaus Inc.

US : U.S.: Nasdaq

$ 5.38

-0.58 -9.73%

Volume: 301,285

May 24, 2022 1:55p

P/E Ratio

16.37

Dividend Yield

N/A

Market Cap

$831.22 million

Rev. per Employee

N/A

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Renaissance IPO ETF

US : U.S.: NYSE Arca

$ 28.39

-1.76 -5.82%

Volume: 53,243

May 24, 2022 1:57p

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S&P 500 Index

US : S&P US

3,921.59

-52.16 -1.31%

Volume: 1.36B

May 24, 2022 1:57p