Bulletin
Investor Alert

Market Pulse Archives

Oct. 27, 2021, 11:58 a.m. EDT

Rent the Runway receives warm Wall Street reception, as stock opens 9.5% above IPO price

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Rent the Runway Inc. (RENT)
  • X
    Renaissance IPO ETF (IPO)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Rent the Runway Inc. /zigman2/quotes/208217928/composite RENT -8.06% received a warm reception on its Wall Street debut, as the fashion rental company's stock opened 9.5% above the initial public offering price. The Brooklyn-based company said overnight that it raised $357.0 million as its upsized IPO of 17.0 million shares priced at $21 a share, at the top of the expected range. The stock's first trade on the Nasdaq was at $23.00 at 11:52 a.m. Eastern for 1.7 million shares. At that price, the company was valued at about $1.4 billion. The upbeat opening for Rent the Runway's stock comes on a day of relative investor disdain for IPOs, as the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +0.59% slumped 1.3% in midday trading while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.32% eased less than 0.1%.

/zigman2/quotes/208217928/composite
US : U.S.: Nasdaq
$ 14.60
-1.28 -8.06%
Volume: 938,794
Nov. 29, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$966.59 million
Rev. per Employee
N/A
loading...
/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 64.79
+0.38 +0.59%
Volume: 175,621
Nov. 29, 2021 4:10p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,655.27
+60.65 +1.32%
Volume: 2.50B
Nov. 29, 2021 4:57p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.